Five arrested with ₹99.8 lakh in demonetised notes in Mulund
Five people including two chartered accountants (CA) were arrested with demonetised currency worth Rs99.8 lakh on Thursday night at a commercial complex in Mulund.
The arrested accused have been identified as Harish Deshnehre, 30, Vipul Jain, 39, Malay Doshi, 27, Junj Patel, 27, and Krishnakumar Nadar, 45. Police seized 9,964 notes of Rs 500 denomination and 4,998 notes of Rs 1,000 denomination.
Police said Doshi and Patel are CAS and they had loaned some money to a man called Mandar, a Chembur resident. When Mandar was unable to repay the amount, he allegedly offered demonetised notes. “The CAS thought that they would exchange the notes with someone for a commission and keep whatever money would be left,” said a police officer requesting anonymity.
Sources said the two CAS and three accomplices were about to meet at Parmeshwar centre in Dalmiya estate in Mulund (west) with the currency and the cops laid a trap to catch them. The police were tipped off about the currency being stocked at the location. “We are investigating how they were going to exchange the money and where it came from,” said Sachin Patil, deputy commissioner of police, Zone 7.
Mandar, who allegedly gave the currency to the accused, is at large. The Income Tax depart ment has been alerted for further investigations. Police suspect involvement of more people in the case. Investigations are on to ascertain how they were going to exchange the notes.
Last Wednesday, The Mumba police intercepted three vehicles one in Tardeo and two at Antop Hill, collectively carrying Rs 2.56 crore in demonetised notes. Five people were held in the case.