Demonetised currency worth Rs 1.68 crores seized; three arrested in Thane

The Thane police have seized demonetised currency notes worth Rs 1.68 crore from three people, who were later arrested. Acting on a tip-off, the police kept a watch at a garden near Parsik Reti Bunder in the district's Kalwa town on June 30 and spotted about three people who had apparently come over there to dispose of the scrapped notes.

The Crime Branch personnel seized Rs 500 and Rs 1000 denominations worth from the accused, the Thane police said in an official release last night.

The three people were later arrested and a case was registered against them by the Kalwa police under relevant sections, the release said.

The police are still trying to find out from where the three accused got the scrapped notes, it added.

Back on 8 November 2016, the Indian Prime Minister in an unscheduled live television address announced that all the Rs 500 and Rs1000 banknotes of the Mahatma Gandhi Series will be invalid post midnight.

While many welcomed the bold move the country also experienced cash crunch which resulted in almost 4,00,000 temporary job losses especially in labor-intensive sectors like textiles, garments, leather, and jewelry.

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