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Demonetisation: CBI arrests absconding man for unaccounted cash deposits

CBI arrests businessman over deposit of unaccounted currency during note ban

ANI  |  Ahmedabad 

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The (CBI) on Tuesday arrested an absconding accused in an on-going investigation of a case relating to demonetised deposit.

During investigation, a Look Out Circular (LOC) was issued against the said accused. He was then spotted at International Airport when he was returning from and was later arrested.

The accused proprietor of based private company allegedly deposited Specified Notes amounting to Rs.1.49 crore (approx) in the current account of said company at St. Xavier's High School Road branch of UCO Bank, during the period.

The deed was executed in conspiracy with the then Manager and Assistant Branch Head of the branch, and other unknown persons.

The said accused was absconding since April 7, 2017, when the case was registered.

The arrested accused will be produced tomorrow in the jurisdictional Special

First Published: Wed, October 18 2017. 10:29 IST