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Two students held in Bareilly with Rs 3 lakh in new currency, say they ‘exchanged notes’

The police also seized Rs 3,12,500 in new notes of Rs 2,000 and Rs 500 and Rs 100.

Written by Manish Sahu | Lucknow |
December 17, 2016 1:07:45 am

BAREILLY POLICE has nabbed two students who were allegedly part of a group involved in exchanging demonetised currency notes for new notes.

The police also seized Rs 3,12,500 in new notes of Rs 2,000 and Rs 500 and Rs 100. The Income Tax Department has been informed and a team is reportedly arriving in Bareilly on Saturday to inquire into the racket.

Ajit Kumar and Harphool Singh, in the final year of graduation and Class XII, respectively, were released by the police on surety and asked to be present whenever summoned regarding the matter.

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The duo told the police that they were working as agents in a group and their job was to search for clients seeking to exchange old notes with new currency. The gang would charge 17 per cent commission, they said.

The boys revealed the names of three persons, including a businessman, who used to source the new notes, said Bardari police station SHO Rajesh Singh.

The police are verifying the names and other details of the three suspects. “The duo were released on sureties of Rs 20,000 each,” the SHO added.

The SHO said the boys were nabbed after the police got to know about the racket. A police team made a call to one of the boys asking for new notes in exchange of Rs 3 lakh in old notes. The boys struck a deal. As Ajit and Harpal arrived at Rohilkhand University crossing, the police caught them and seized Rs 3,12,500 from their possession. The cash included Rs 2.68 lakh in new notes of Rs 2,000.

SP, City, Sameer Saurabh said that they informed the Income Tax Department as the exchange racket does not come under the purview of IPC. “A letter was sent to the Income Tax Department on Friday along with details of the matter,” added Saurabh.

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