UP police arrest four with Rs 25 crore demonetised currency
Meerut (Uttar Pradesh), Dec 29 : Demonetised currency worth Rs 25 crore was recovered on Friday from a property dealer in Uttar Pradesh’s Meerut.
According to sources, four people have been arrested by Uttar Pradesh Police for the illegal possession of 500 and 1000 rupee notes of demonetised currency.
Police have seized the currency and was in search of the main accused, who is said to be absconding.
On November 8 last year, the BJP-led Centre announced demonetisation and invalidated Rs. 500 and Rs. 1,000 banknotes, claiming it was a crackdown on the shadow economy and use of illicit and counterfeit cash to fund illegal activities and terrorism.