Despite being demonetised nearly seven months ago, the Rs 500 currency notes are still in circulation even as Collem police seized Rs 500 notes valued at Rs 30 lakh from two persons hailing from Huballi, who have been detained in this connection.
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PONDA
Confirming the incident, Collem Police Inspector Nilesh Dhaikodkar said they have registered the offence against the accused, both in their forties, under Section 41 of Indian Penal Code. “We have alerted Income Tax officials to investigate the matter,” PI Dhaikodkar said.
According to sources, two persons were travelling from Huballi to Goa on a motorcycle with 60 bundles of Rs 500 currency notes late Friday evening.
Though Collem police were reluctant to disclose any information about the incident, sources said the Collem police intercepted the motorcycle at the check post. They were frisked and the Rs 500 notes valued at Rs 30 lakh were found with them. The Income Tax department was also alerted in the matter and both persons were detained in this connection.
While it was not clear why the suspects had entered Goa with Rs 500 currency notes worth Rs 30 lakh, some have speculated that it may been linked to the Reserve Bank of India decision to allow Non-Resident Indians (NRI) to exchange the demonetised Rs 500 and Rs 1,000 notes till June 30.
It is speculated that the accused may have tried to hand over this money to NRIs in Goa, so that the money could have been officially converted sometime during this month.
While police at the Mollem Out Post and Collem Police station refused to divulge further details, they only added that the matter is being investigated by the I-T department.
THE MONEY TRAIL
Two persons arrive from Huballi to Goa on motorcycle
Collem police intercept both at check post
On frisking 60 bundles of ` 500 notes found
Income Tax department alerted, both detained
EXCHANGE DEAL?: The duo’s entry with the demonetised currency may been linked to RBI’s decision to allow NRIs to exchange demonetised notes till June 30. The accused would have handed over this money to NRIs, so that it could have been officially converted sometime during this month
