40-year-old held from Mumbra with Rs 98 lakh demonetized notes

THANE: A 40-year-old garment dealer from Chembur was arrested from Mumbra by the crime branch reportedly for possession of Rs 98 lakh in demonetized currency notes on Friday.
Police claimed that Pritish Chadwa was arrested following a trap laid by the sleuths.

Assistant police inspector Aviraj Kurhade is said to have received a tip-off that a man driving a car would be carrying the old currency notes and accordingly a team laid a trap and intercepted the car near Mumbra at 7pm.

Upon carrying a search they found mango boxes and cash stashed in the boxes, said deputy commissioner of police (crime) Abhishek Trimukhe.

The police found 4,250 demonetized notes of Rs 1,000 and 11,100 currency notes of Rs 500 from him.

The officer said that presently they are trying to find out as to whom he was planning to exchange these notes with and for what commission, though it is unlikely that anybody will do so now.

An offence under Sections 3,5 and 7 of the Specified Bank Notes (Cessation of Liabilities) Act 2017 has been registered against him with the Mumbra police.

Further probe into the case is being carried out by the local police, added the officer.