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Perinthalmanna: Three People Arrested with banned notes worth Rs 3.14 crore!

Perinthalmanna: Three People Arrested with banned notes worth Rs 3.14 crore! :- Well, the very shocking news is coming out from the Malappuram where police arrested three accused with 3.14 Crore old notes. Yes, as per the reports police in Perinthalmanna seized currencies of 1,000 and 500 denominations previously valued at Rs 3.14 crore and arrested three persons. Also, the sources are saying that the old notes are hidden inside their car after they stopped them at Angadippuram near the town following a tip off.

Also, the sources are saying that they identified them as Shamsudheen of Wayanad and M.V. Abutty and M.V. Adhil of Areekode. Even the police are doing an investigation now and they aren’t saying anything till now and they seized the whole car. Reports are coming out that the first accused, Mr. Shamsudheen, is a Chennai-based businessman.

Three People Arrested with banned notes worth Rs 3.14 crore!

Also, the reports are saying that these three were held during a secret raid by the special investigation team of Perinthalmanna Police led by DySP M.P. Mohanachandran, inspector T.S. Binu, and sub-inspector V.K. Kamarudheen.  The raid was part of ongoing crackdown on illegal money dealings in the district. You may all know that since few days this type of news is coming out a lot.  Also, the shocking part of this case is that covert dealers were facilitating the exchange of old notes to new through the bank.

Police said “We are investigating the case and the involvement of black money dealers outside Kerala. The probe will also be extended to Chennai,”. Well, till now it looks like that a big gang of crime is involved in this case. Also, the clandestine network is active in this illegal trade which offers a huge commission for exchanging the defunct currencies, he said. The police had seized demonetized notes worth Rs 4.5 crore from various parts of Perinthalmanna during the past two months and held 15 persons.

  • Balasubramanian Ganesan

    It is surprising to note the clandestine trade is on and a network is engaged in operation. May be this is a tip of an iceberg.Connect it with RBI’s recent statement that 99% of the banned notes have come into the banks. opposition parties all over India were crying that many people could not deposit the money with in the stipulated time. So ,many may be having with them say 15 notes of 500 at least.Add to this the unearthed so far from this location only.The black money to come out is still sizable.