Indore: City police caught a cloth merchant who was carrying banned (demonetised) currency notes worth Rs 44.86 lakh in a luxury car under Tukoganj police station area late on Monday night.
Acting on specific information from special task force (STF) officials, a team from Tukoganj police station started a checking drive near Bal Vinay Mandir School and stopped the car. During checking, police seized demonetised notes in denomination of Rs 500 and Rs 1000 totalling Rs 44.86 lakh from the car and arrested 43-year-old Pravin Agrawal, a resident of Janki Nagar area of the city. He was going to deliver the currency notes to someone in a luxury car bearing a Maharashtra number which was also seized.
Investigating officer SI Pratibha Tomar told Free Press over phone that Agrawal is a city-based cloth merchant and he revealed that the money was to be delivered to two persons in the city for exchange. Police are trying to trace them and investigating the case. Earlier on April 11, four persons were arrested by Kanadiya police from bypass with demonetised currency notes worth Rs 64.30 lakh.