Rs 4.23 cr in scrapped notes recovered from Delhi businessman

The Delhi Police today recovered Rs 4.23 crore in scrapped currency notes from the office of a Janakpuri businessman, who was allegedly involved in illegal currency exchange.
Anil Jain (35), who runs a chit-fund company, has been detained from the Janakpuri area, police said.
The Crime Branch conducted a raid on the businessman's office today and recovered Rs 4.23 crore.
It has been found that the money belongs to some hawala operators and the Income Tax department will conduct further inquiry, police said.
The inter-state cell of Crime Branch received a tip-off that some persons are getting old currency exchanged after charging 50 per cent commission.

Jain runs a chit fund company, the police said.

Sources said crime branch officials intercepted some phone calls where the caller was allegedly striking a deal with hawala operators and asking them to exchange his money on commission.
Jain was charging 50 per cent commission for the exchange of notes, they said.
The businessman had "hired" a cash-van to take the money for exchange today and while he was about to board the vehicle he was nabbed, they said.
The Income Tax Department and a Crime Branch team jointly interrogated him and he has been taken into custody by the IT department.