In a joint operation, the Pune Police and the Income Tax department on Friday seized one crore 12 lakhs and fifty thousand rupees all in banned denominations of Rs. 500 and Rs. 1000 from a businessman in Pune.
The businessman, Bharat Rajmal Shah, wanted to convert his alleged unaccounted money through some agents at 25 percent commission.
Subsequently, a trap was laid and Shah was detained near Pune's cantonment area while trying to get those notes exchanged.
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