KANPUR: On the information passed on by the National Investigation Agency (NIA), Uttar Pradesh police have recovered demonetised notes worth about Rs 100 crore from an under-construction house in Swarup Nagar area of the city on Tuesday.
This is one of the biggest hauls since old Rs 500 and Rs 1000 banknotes were banned in November 2016. Police sources here on Wednesday said the currency belonged to five individuals and companies including a prominent detergent-maker.Police suspects the cash was hidden with an intention of converting them into legal currency through illegal means.
NIA got the information that huge amount of demonetised currency was being stored in an under construction house in the Swarup Nagar locality of Kanpur.Since there was no terror angle involved, the information was shared with the UP police and raid was conducted.
Earlier RBI had informed that more than 99 per cent of the demonetised notes have returned to the banks. The Income Tax department has been informed about the recovery and asked to find out how the money was to be exchanged.
Earlier, the NIA had recovered Rs 36.34 crore in demonetised currency in Delhi in November last year.
(AGENCIES)
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