On December 9, 2016, Unit 5 of Crime Branch of the Mumbai Police seized Rs 85 lakh cash, a majority of which were the new Rs 2000 notes. According to the crime branch officials, who received a tip off, the consignment was seized from an Innova car on Babasaheb Ambedkar Road, Dadar East.
Among the seven people who were detained, four dealt in bullion and the other three, including an artist, were businessmen. The businessmen were supposed to exchange their old notes from the bullion dealers.
Speaking to Bayside Journal, Ashok Dudhe, the spokesperson of Mumbai Police said, “The Unit 5 of the Crime Branch seized Rs 85 lakhs of which 72 lakh rupees were in new Rs 2000 notes and the remaining Rs 13 lakh were in Rs 100 notes. The police officer got a tip-off from the source that the four bullion dealers were planning to exchange their news notes for old notes of Rs 500 and Rs 1000 from the other three businessmen for a 15% commission. The dealers were supposed to get about Rs 1 crore worth of old notes.”
He added, “Presently officers are questioning the bullion dealers to find out the source of such a huge amount of cash in the new denomination notes. Prima Facie, they also do not have proper documents to account for the cash. We have sought assistance from the Income Tax department to probe this case. Currently, enquiries are under way and the police will register a case once the IT department finishes its probe.”
Cases of Raid and Seizure after Demonetisation on the Rise
It has been over a month since Prime Minister Narendra Modi announced, on the night of November 8, the demonetisation of high value notes of 500 and 100 rupee notes. In Mumbai, Delhi, and Jaipur alone more than Rs 500 crores of cash has been seized by the IT department and the police. A retired bank officer from Navi Mumbai said, “Even though many people standing in bank queues say that the move announced by the Prime Minister is to curb the black money; but I don’t think that this operation will help in curbing the black money in the country. My wife and I, being senior citizens, face problems in going to the ATM to withdraw money. I don’t understand why the politicians, builders, bureaucrats, lawyers, bankers, and also police officials are getting caught with the new denominations of Rs 2000 and with disproportionate assets. Not only me but many people are unable to withdraw their own money; from where do these people get their money?”
Crime Branch and Police Officials Join Hands to Arrest the Culprit
The Mumbai Crime Branch and police officials have joined hands to arrest these culprits and also take strict action against them. They have started an initiative asking people to help them by giving tip-offs about people possessing such assets. According to a police source, “There are many big fish with lots of disproportionate assets. It will be very difficult to bring out all the black money through demonetisation because many people take the help of powerful politicians and are out on bail before the investigation is completed.”