Lokayukta Police deposits Rs 1.61 cr in old notes as FDs

Lokayukta Police has converted Rs 1.61 crores, seized in now banned Rs 500 and Rs 1,000 denomination notes in the last 10 years, into fixed deposits as per court a Madhya Pradesh High Court order.
"We have deposited Rs 1,61,56,000 cash seized during raids at various premises of government officials and deposited it as fixed deposits at a nationalised bank," Deputy Superintendent of Police (DSP) Lokayukta Indore, B S Patihar told PTI.
The amount was seized in connection with 30 cases of alleged corruption in the last one decade.
He said as per rules, the money seized in raids is deposited in the government treasury and then court while deciding the matter takes a call to whom the cash should be handed over.

As per the court order, the sum was withdrawn from the government treasury in the last 10 days and has been now parked as fix deposits with a bank, the senior official said.
The Indore bench of MP high court while hearing a case of alleged corruption against a former government employee on December 19, had directed the Lokayukta to deposit the seized cash as fixed deposits in a nationalised bank ahead of December 30, the last date of depositing old notes post demonetisation.