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2 men arrested with 60L of demonetised banknotes in Delhi's Shakarpur

Published on Jul 08, 2022 01:41 AM IST

In November 2016, the government demonetised banknotes in the denomination of ₹1,000 and ₹500. The ₹500 notes were re-issued and ₹1,000 notes withdrawn.

2 men arrested with 60L of demonetised banknotes in Delhi's Shakarpur (Pic for representation)

The Delhi Police have seized demonetised currency notes with a face value of 61.97 lakh from east Delhi’s Shakarpur, officers said on Thursday.

The seizure came after a lead about a fake currency racket operating out of east Delhi, the officers said, adding that the notes were recovered on Wednesday, after the suspects were arrested.

In November 2016, the government demonetised banknotes in the denomination of 1,000 and 500. The 500 notes were re-issued and 1,000 notes withdrawn.

Besides Delhi Police, the Intelligence Bureau is also investigating as to why the two suspects had such a huge stash of invalid currency and what were they planning to do with it.

Also read: Three members of gang involved in extortion racket held in Panipat

The police have also informed the Income Tax (IT) department, the Enforcement Directorate (ED) and the Reserve Bank of India (RBI) about the recovery of the old banknotes. The agencies have been asked to look into the matter and initiate action, if required, said a senior police officer.

It appears that the racketeers are part of an organised gang that is involved in cheating people, especially the elderly, by impersonating as police or income tax officials and replacing their valid currency notes with the invalid ones in the name of a search and frisking exercise, the officer said.

“We are trying to ascertain the source of the old currency notes. The apprehended men claimed that they paid 14 lakh in genuine notes and in return got around 62 lakh of the invalid notes. They have named two people from whom they got the old notes. We are verifying their claims and trying to find and nab the two individuals,” the officer added.

Deputy commissioner of police (east) Priyanka Kashyap said that on July 6, a 48-year-old man named Azad Singh from Dadri in Greater Noida was caught near Laxmi Nagar Metro station on the basis of an information regarding circulation of fake banknotes. Singh did not have any fake currency notes, but during interrogation he confessed that he was involved in a fake notes racket.

Also read: Man held in UP for wrapping meal in newspaper carrying images of Hindu deities

On the information provided by Singh, the police raided the house of one Ezaz Ahmad, 45, at Ramesh Park, near Laxmi Nagar, and found two bags containing 61.97 lakh in demonetised currency notes. Immediately, teams of Special Staff, Special Cell, IB, Special Branch were called for the joint interrogation of the two suspects, said DCP Kashyap.

A second senior officer said Ahmad told the investigators he worked as a lab supervisor in hospitals in Oman and Saudi Arabia before moving to Delhi in 2010.

Ahmad owns two e-rickshaws and gives them on rent for livelihood. Singh on the other hand is in a private job, he added.

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