MP: Demonetised Cash Worth Rs 47 Lakh Seized In Gwalior

Gwalior (Madhya Pradesh): Two persons were arrested with illegal cash worth Rs 47 lakhs on Monday in Gwalior. The police have seized Rs 1000 demonetised notes that were phased out by the government in 2016.

The Crime Branch received information about an individual riding a Hero Splendor motorbike from the direction of Morena, carrying a substantial amount of old currency concealed in a black bag. A team was quickly assembled, and they initiated checks on vehicles traveling in that area.

The Crime Branch team encountered the individual with the motorbike who, upon spotting the police, attempted to return the vehicle.

The police team immediately detained the individual and conducted a search, which led to the discovery of a substantial quantity of old Indian currency. Upon counting the notes, the police determined that there were 41 bundles of old one-thousand-rupee notes and 12 bundles of old five-hundred-rupee notes, total amount of 47 lakhs rupees.

The individual identified himself as a resident of Morena and provided vague answers when questioned about the origin and purpose of the old currency notes. The police have seized the old currency and reported the incident to the Election Commission and the Income Tax Department. Investigations are now underway to determine the intended use or distribution of these old notes.