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giftedviz.com May 27, 2018


Rs 45 crores in demonetised notes seized from textile shop in Chennai

19 May 2017, 10:18 | Ross Houston

Rs 45 crores in demonetised notes seized from textile shop in Chennai

Rs 45 crores in demonetised notes seized from textile shop in Chennai

Tamil Nadu Police on Friday seized Rs 45 crore of demonetised currency notes from a tailor shop in Kodambakkam's Zackariah Colony on Thursday. The owner of MV Ramalingam & Co, Dhandapani has been taken into custody. The police said that the owner of the seized cash has a jewellery shop in Sowcarpet as well as a finance firm in Teynampet. According to a report by the Times of India, a police team, led by Deputy Commissioner of T Nagar, Saravanan and Chitti Babu, an inspector from Kodambakkam raided a tailor shop that stitched police uniforms.

The shop owner said that the money belonged to a jewellery shop owner who was waiting to exchange them legally. Police raided the place early Thursday morning, getting a tip off and found 11 bags with bundles of old notes. This is the first time the Chennai police are seizing such a huge stash of banned notes, particularly after demonetisation of old notes came into effect on November 8 past year. It is also reported that the Chennai police has made such a big raid for the first time after the demonetisation of old notes that came into effect on November 8.

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Police officers said they had informed the Income Tax Department and Enforcement Directorate about the seizure, but none of the officials from the two agencies came forward to initiate further proceedings from their end. During the raid, the IT department had seized currency notes worth Rs 131 crore, including Rs 34 crore of new notes and 127 kg gold from the TN businessman.



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