Mumbai police detain two men with Rs1 crore in demonetised notes

MUMBAI CITY NEWS: The men had collected the money from a businessman in Dadar and were supposed to exchange it for new currency. They were to keep Rs20 lakh of it as their fee.

The Naupada police detained two men after they were found in possession of Rs 1 crore in demonetised notes.

Police display the money seized from the accused. (HT Photo)

Manoj Harishchandra Cheddha,32, a finance company agent and his aide Prathamesh Bhaskar Gawde,22, had come to Thane to exchange the old notes for new ones illegally, said the police. They are residents of Dadar and had collected the money from a businessman in the area. They were supposed to keep Rs20lakh of the entire amount as fee for exchanging the old notes, said an officer.

The police are now trying to find out details about the businessman. “We have given the accused a week’s time to tell us about the businessman from Dadar and how they were going to exchange it. If they don’t give us the information then the income tax department will take legal action against them,” said Ravindra Doiphode senior police inspector from Thane anti-chain snatching squad.

He added that the police had received a tip off about the men and acted accordingly. “Cheddha and Gawde came to Naupada near Talao Pali on Friday night and they were carrying a plastic bag. We nabbed them and on checking the bag, we found that it had Rs 1 crore in old notes,” said Doiphode. The income tax department has been informed about the incident and would soon hand the men over to them, he added.

“We know the name of the person who was going to give Cheddha and Bhaskar the new notes and are trying to get more details on him,” said Doiphode.