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Rural cops seize ` 23 lakh old notes
The Narsipatnam police on Monday seized spiked currency notes (Rs 500 and Rs1,000 denominations) to the tune of Rs 23.5 lakh and took Visataraku trader into their custody near Tandava Junction.
Visakhapatnam: The Narsipatnam police on Monday seized spiked currency notes (Rs 500 and Rs1,000 denominations) to the tune of Rs 23.5 lakh and took Visataraku trader into their custody near Tandava Junction.
Inspector of Narsipatnam Rural L Revathamma said that acting on a tip-off, their teams intercepted an RTC bus and seized the currency notes from the trader P Venkateswara Rao, a native of Kothakota area.
The police said Rao has been supplying leaves for making eating plates to various parts in the State and neighbouring Odisha. In the first week of November 2016, Rao had supplied over Rs 25 lakh worth leaves to retail traders who due to the demonetisation could not deposit amount in Rao’s account.
However, Rao went to the retailers and personally collected the dues amounting to Rs 23.5 lakh –all in the form of Rs 500 and Rs 1,000- and returning home when the police caught him and seized the money. The seized amount would be handed over to treasury department and inform Income Tax officials to investigate the case, the CI said.
If the amount is accounted, the IT official will return the amount to him, Revathamma said.
