Police have seized cash worth Rs 10.77 lakh in new notes in denominations of Rs 2,000 and Rs 500 from an employee of a private firm in Krushnanagar area and arrested him as he failed to explain the source of money.
The incident occurred on Monday night when the police stopped the man riding a scooter during patrolling.
"Our staff stopped a man on Monday night when he was passing from a road on his scooter. During the search, we found a bag containing 363 notes of Rs 2000, 24 notes of Rs 500 and 3,399 note of Rs 100. Total face value of these notes was Rs 10.77 lakh," said Krushnanagar police inspector C R Sangada.
The man, identified as Ashwin Patel, was arrested as he failed to give any satisfactory explanation about the source of the cash he was carrying with him.
Patel was released on bail yesterday.
"According to Patel, who works in a private firm, he received these notes from his relatives. Since he could not provide any satisfactory answer, we arrested him and seized the cash. He was released on bail yesterday. The cash has been seized and further investigation is on," said Sangada.
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