About Rs 100 crore in demonetised notes seized from half-built house in Kanpur

ss1

About Rs 100 crore in demonetised notes seized from half-built house in Kanpur

Since the government banned 500 and 1000-rupee notes, hundreds of crores of the demonetised currency have been channelled into the formal banking system, a large part of them illegally.

The National Investigation Agency (NIA) and Uttar Pradesh police have recovered demonetised currency notes worth nearly Rs 100 crore from an under-construction house in Kanpur in one of the biggest hauls since the high-value currency was banned in November 2016.

At least 16 people have been arrested since the recovery on Tuesday from the house of Anand Khatri, part of Raj Ratan group which has diversified business interests including real estate, healthcare and textile.

A builder from Sisamau led the team to the site where the currency was stocked, an UP police official said. The investigating agency suspects the cash was hidden with an intention of converting them into legal currency through covert means.

Share Button

Leave a Reply

Your email address will not be published. Required fields are marked *