The black market continues to thrive as was showcased on Tuesday evening when the Thane crime branch unit 1 officials laid a trap and seized almost Rs 1.40 crore in cash
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In the current demonetized environment, even as the queues outside most ATMs show no sign of shrinking anytime soon, the black market continues to thrive as was showcased on Tuesday evening when the Thane crime branch unit 1 officials laid a trap and seized almost Rs 1.40 crore in cash. Three people were also detained in the operation.
The arrested accused — Gaurav Picha, Harish Raut and Chintan Ramibiya — are all Borivli-based businessmen, who were caught with the cash on Tuesday evening near the Thane civil hospital. “Of the total cash seized, Rs 1.38crore was in the new Rs 2,000 notes, and the remaining four were Rs 500 notes. They are now been interrogated about the cash and have been asked to show proof for the sum. We are also in the process of informing the Income Tax department once we are done investigating the matter,” said a senior officer from Thane Crime Branch.
Parag Manare, Deputy Commissioner of Police, Thane crime branch said, “Two local reporters tipped us off that a currency exchange was going to happen in Thane and accordingly, we laid a trap and caught the three. We suspect that they were planning to earn a 20 per cent commission from the exchange.” The arrested include a mithaiwala, who also has a spare parts business, a real estate broker and a caterer.
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