Chennai: Demonetised notes in crores recovered from shop that sells police uniforms

Demonetised notes

Demonetised notes

In probably the biggest old notes heist post demonetisation, the Chennai police on Thursday recovered 45 crore from a costume tailoring shop in Kodambakkam.

While the notes have no value, the Income Tax department has joined the probe to find out how the owner, D Dhandapani had such a large amount of cash. Based on a tip-off the police reportedly raided the shop, only to find the scrapped Rs.500 and Rs.1000 notes stuffed in a gunny bag. The identity of the jeweller has not been made official by the Chennai police. Dhandapani, who has been taken into custody, told police that the money belongs to a realtor Pondy Bazaar, Pathan Gilani, who had given it to him to be kept in the shop.

On Thursday morning, the Chennai Police conducted a raid at MV Ramalingam & Co, a textile shop specialised in stitching uniforms for government officers at Kodambakkam.

The police, reported ToI, was however, suspecting that Dhandapani might have been acting as a middleman or an agent who tried to exchange the old currency notes in return for some sort of a remuneration. This is the first time the Chennai police are seizing such a huge stash of banned notes, particularly after demonetisation of old notes came into effect on November 8 previous year.

Since the Prime Minister announced demonetisation on November 8, there have been multiple raids in Chennai. Police have submitted a report to the RBI and handed over the cash to them. The raids on the premises of sand mining baron Sekhar Reddy and two of his associates last December have been the biggest so far.

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