Demonetised notes of Rs 1.9cr face value seized

Mangaluru: Sleuths from

Barke police station

arrested three people and seized

demonetised currency notes

of Rs 500 and Rs 1,000 denomination and of Rs 1.9 crore face value, on Thursday.

City police commissioner N Shashi Kumar

said on Friday, that the currency notes were seized when the accused were attempting to

transport

them in an

SUV

in the city. The accused are Zubair Hammabba,52, Abdul Nasir,40, and Deepak Kumar,32, who are residents of Mangaluru. While Zubair and Abdul are drivers, Deepak assists his father, who is an electrical contractor. The vehicle used for the crime has been seized.

Preliminary investigation revealed that the accused had procured the notes from a person near Shivamogga and Chitradurga districts. They had reportedly approached some people in the city, offering these notes at 20% of their face value. They claimed that banks would accept such notes at 50% of the face value under a special provision.

Clarifying that demonetised currency notes have no value, the top cop requested the public not to fall prey to such claims.

The accused have been booked under IPC Section 420 and various provisions of Specified Bank Notes (Cessation of Liabilities) Act-2017. The accused will be produced before a court, and the police will seek their custody for further investigation. “We need to track the source of demonetised currency notes, and to whom they tried to supply the same,” the commissioner said.

DCP (law and order) Hariram Shankar, ACP central sub-division P A Hegde, Barke police inspector Jyotirling Honnakatti and the team that cracked the case were present.


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