You are here: Home » PTI Stories » National » News
Business Standard

Rs 50 lakh in demonetised notes seized from Aligarh hotel

Press Trust of India  |  Aligarh (UP) 

A day after the seizure of nearly Rs 97 crore in demonetised notes in Kanpur, the Uttar Pradesh police recovered Rs 50 lakh in old notes from a hotel room in Aligarh, police said today.

The seizure was made during a raid yesterday following a tip-off, Superintendent of Police (City) Atul Srivastava told reporters.

Five people who were trying to strike a deal with another person to exchange the banned Rs 500 and Rs 1,000 notes were nabbed on the spot, he said.

They had hired a room in a hotel in Masoodabad locality under Bannadevi police station area.

The police booked the five -- Bhubaneswar Kumar, Nitin Agarwal, Nitin Srivastava, Gajendra and Pradeep Kumar -- under section 420 (cheating) of the IPC.

The person with whom the deal was being struck is on the run.

The recovery of the old currency notes here threw policemen into a tizzy as the matter came to light just a day after nearly Rs 97 crore in demonetised currency notes were found in gunny bags and stacked in trunks and inside the bed from the house of a builder in Kanpur.

As many as 16 people were arrested in Kanpur, including four involved in the conversion of illegal money.

The Centre had banned currency notes in the denomination of Rs 500 and Rs 1,000 in November, 2016 to flush out black money, eliminate fake notes and stop terror-funding.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 18 2018. 18:35 IST
RECOMMENDED FOR YOU