Major currency racket in UP: Demonetized notes worth ₹1.43 crore seized from a motorcyclist.
Hapur. In Uttar Pradesh, cases related to fake notes and old currency have increased the activity of investigative agencies. The investigation into the discovery of fake notes worth more than Rs 17 crore in the currency chest of Punjab National Bank in Saharanpur is still going on. Meanwhile, in Hapur district, during a checking operation, the police have recovered old demonetised notes worth Rs 1.43 crore from the possession of a bike rider. After receiving such a huge amount, the police has started investigating the matter. It is feared that some network related to exchange of old notes may be active. However, this has not been officially confirmed yet.
Hapur Dehat police station took this action near a petrol pump located in Tatarpur Chowki area. The police team was checking suspicious persons and vehicles. Meanwhile, a bike rider was stopped and searched. During the search, a large number of bundles of old demonetised notes were recovered from him. The total value of these notes is said to be around Rs 1 crore 43 lakh. After the recovery, the police is interrogating the bike rider.
Currency worth crores found in bike during checking
According to the information, Hapur Dehat police station in-charge Paras Malik was checking vehicles with the police team in Tatarpur outpost area. Meanwhile, a suspicious bike rider was stopped near the petrol pump. When the police searched him, old notes of Rs 500 and Rs 1000 were recovered from his possession.
After finding such a large number of demonetised notes, the police took the concerned person into custody and started interrogating them. Police are trying to find out from where the notes were brought and where they were to be delivered.
According to preliminary information, the arrested person is said to be a resident of Ghaziabad. His identity has been revealed as Devendra. However, investigation is ongoing into the real owner of the notes and the purpose of taking them.
Huge amount received after ten years of demonetization
In November 2016, the Central Government had decided to remove the then Rs 500 and Rs 1000 notes from circulation in the country. After this, a stipulated period was given for exchanging and depositing the old notes.
Now, almost ten years later, the recovery of such a large quantity of old demonetised notes has raised many questions. The biggest question before the police is where these notes were kept for so long and what was the purpose of taking them from one place to another.
The value of the recovered notes is being told on the basis of their old face value. These notes are no longer legal tender for normal transactions.
Fear of network exchanging old notes
Police are also investigating the possibility of whether some organized network is working in the name of exchanging old demonetised notes. However, the evidence of any such gang being active has not been made public yet.
In the investigation, efforts are being made to find out who gave the notes to the bike rider and where they were to be delivered. Police are also trying to find out whether other persons have a role in this transaction or not.
The police have informed the concerned investigating agencies regarding the recovery. Information about the Income Tax Department and other agencies being informed about the matter has also come to light. Facts related to the source of the notes and possible transactions will be important in further investigation.
Fake notes worth Rs 17.29 crore were found in Saharanpur
Before this recovery in Hapur, a case of recovery of fake notes worth Rs 17 crore 29 lakh from the currency chest of Punjab National Bank in Saharanpur had come to light. This case had raised serious questions regarding the security of the banking system and currency chests.
During the investigation in the Saharanpur case, the role of bank employees and other suspicious persons came to light. The National Investigation Agency i.e. NIA had arrested bank manager Amit Kumar in September. Apart from this, information about the arrest of a contract driver associated with the currency chest was also revealed.
However, no connection has been confirmed between the demonetised notes found in Hapur and the fake note case of Saharanpur. The nature of both the cases is also different. Fake currency was recovered in Saharanpur, while old notes already out of circulation were found in Hapur.
Police busy searching for the source of the notes
The most important task for Hapur Police at present is to find out the source of the recovered notes. The police is trying to find out through interrogation how such a huge amount of money reached a bike rider.
The investigation is looking into the movement of the notes, possible contacts and the role of the concerned persons. If evidence related to any organized activity comes to light then the scope of investigation may increase.
At present, no final conclusion regarding the entire network has been made public by the police. In such a situation, the issue of gang exchanging old notes is still limited to investigation and apprehension.
Keeping an eye on the reports of investigating agencies
After these two cases that have come to light in Uttar Pradesh recently, investigation into suspicious transactions involving large amounts of money has become important. Whose old notes worth Rs 1.43 crore recovered in Hapur belonged to and where they were being taken, will become clear only after the investigation is completed.
At present, the police have taken the notes into their possession and have started questioning them. The concerned agencies have also been informed. Now further action will be taken on the basis of evidence emerging in the investigation.