The city police have arrested five men, including a municipal councillor from Ahmednagar district, for allegedly possessing demonetised notes to the tune of nearly ? 3 crores.
A team from the Khadak police nabbed the accused from Pune’s Raviwar Peth area late Thursday and seized over 48,000 demonetised currency notes in denominations of ? 1,000 and ?500.
The face value of the seized notes is around ?2.99 crore, said senior police inspector Rajendra Mokashi, in charge of Khadak police station.
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Those detained include Gajendra Abhang (48), a member of the Sangamner municipal council in Ahmednagar, along with Vijay Shinde (38), Aditya Ghavan (25), Navnath Bhandagale (28) – all from Pune – and Suraj Jagtap (40) of Satara district.
They have been booked under relevant sections of the Specified Bank Notes (Cessation of Liabilities) Act, 2017.
“Acting on a tip-off, we caught the five men when they attempted to exchange the demonetized currency notes. Further investigations are on,” said Mr. Mokashi.
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