Mumbai: Five caught with ₹2.56 crore in demonetised notes

The police intercepted three vehicles, one in Tardeo and two at Antop Hill

The Mumbai police intercepted three vehicles, one in Tardeo and two at Antop Hill, collectively carrying Rs2.56 crore in demonetised notes on Wednesday. Five people were held in connection with the case.

Police officers display the old notes. (HT Photo)

In one incident, the Tardeo police and the crime branch intercepted a sports utility vehicle (SUV) at Haji Ali on Wednesday night. Acting on a tip off, the police had laid a trap for the vehicle. They found plastic bag containing Rs500 and Rs1000 notes worth Rs1.60 crore on the back seat of the car. The police arrested Malad resident Sayra Male, 41, and real estate agent Jaymin Vora, 34. “Investigations revealed that the cash belongs to a Khar-based jeweller who was earlier suspected of exchanging foreign currency. We are investigating,” said a police officer privy to the investigation.

The accused were to be paid Rs40,000 in exchange for the demonetised notes.

At Antop Hill, the police laid a trap near Kalpak Naka and intercepted a car and a two-wheeler. They caught three people transporting Rs96.80 lakh in demonetised notes. The accused have been identified as Rohit Pathak, 23, Pravin Kamble, 55, and Alwin Borde, 27.

Sources said all the accused have been working as agents to exchange demonetised currency. Police suspect that more people are part of this racket.

All the accused were produced before a court and have been bailed out. “The local police have referred the case to the income tax department,” said Shinde.