Kutch (Gujarat): Three persons were on Saturday detained in Bhuj with Rs27.62 lakh in new Rs2,000 notes, local police has said. The cash was seized and the matter referred to the income tax department, an official said.
Acting on a tip-off that the trio was trying to exchange scrapped currency notes with new bills for a commission, a modus operandi for converting black money into white, the police detained them when they arrived near a hotel on Madhpur highway in a car.
The trio was identified as Irfan Mistry, Abdul Odiyan and Imran Majotha. Police have recovered 1,381 notes in Rs2,000 denomination from their possession, totalling Rs27.62 lakh, and 82 bills of Rs100 (Rs8,200).
“We have detained three persons who arrived in a car and were waiting for a customer who had contacted them to exchange their demonetised currency notes,” said Kutch (West) inspector J.M. Ala. “They did not furnish any documents to support the possession of money. We detained them and seized the money. The income tax department has been informed and will further investigate the matter.”