Four held, Rs 36 lakh seized in Coimbatore as note exchange plan foiled

The Perumanallur Police have arrested four persons from Coimbatore for carrying unaccounted cash of Rs 36.10 lakh.
Representational Image. | Reuters
Representational Image. | Reuters

TIRUPUR: The Perumanallur Police have arrested four persons from Coimbatore for carrying unaccounted cash of Rs 36.10 lakh, of which all but Rs 10,000 were in Rs 2,000 denomination. During a vehicle check on the Salem-Kochi bypass road at Kanakkampalayam Pirivu near Perumanallur around 1 am on Tuesday, the police found the cash in the car plying from Coimbatore to Perumanallur.

Four persons in the car, included Ilayaraja (35), a postal employee from Coimbatore, his relative Kuppuraj (31), and Aarun Rashid (34) and Dulfukar Ali (39), both scrap dealers from Ukkadam. As none of them could explain the source of the money, the police detained all the four and informed the Income Tax (I-T) Department.

A probe by I-T Inspectors (Investigations) Neeraj Kumar and Krishnan and Tirupur I-T Officer Narayanan revealed that Ilayaraja and Kuppuraj had promised Rashid and Ali that they will get the old notes exchanged through an unknown client for a commission of 10 per cent. Believing it, Rashid and Ali brought Rs 36 lakh in new Rs2,000 currency.

The money and the car were seized and the I-T officials were inquiring all the four. The officials were looking into whether Ilayaraja misappropriated the funds from the postal department, said sources.

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