Thane cops arrest man with Rs 90 lakh in demonetised notes

A 40-year-old man has been arrested here with demonetised notes with a face value of Rs 90 lakh, a Thane police official said today.

He said that Pritish Chadwa (40), a resident of Chembur in Mumbai, was arrested after police, acting on a tip-off, seized notes, in denominations of Rs 500 and Rs 1000, hidden in mango boxes kept in his car.

Chadwa was arrested from Mumbra in the district here at around 7 pm yesterday, the official said.

He said that police investigations were underway to find out how he planned to exchange the demonetised notes.

A case had been registered with Mumbra police under relevant sections of the Specified Bank Notes (Cessation of Liabilities) Act 2017, the official said.