NEW DELHI: The Delhi Police has busted a racket and arrested four men for allegedly attempting to circulate invalid demonetised currency worth Rs 3.59 crore. The gang was trying to dupe people by offering old notes at throwaway prices and falsely claiming that the currency could be exchanged at the Reserve Bank of India (RBI) using Aadhaar, officials said on Thursday.
“Acting on a tip-off on December 10, police nabbed four people near Shalimar Bagh metro station gate number 4, and a huge quantity of demonetised Rs 500 and Rs 1,000 currency notes with a total face value of Rs 3,59,08,000 was seized. Two cars used in the operation were also impounded,” DCP (Northwest) Bhisham Singh said.
The accused have been identified as Harsh (22), his cousin Lakshya (28), Tek Chand Thakur (39) and Vipin Kumar (38), all residents of Delhi, he added.
“A case has been registered under relevant Bharatiya Nyaya Sanhita (BNS) sections and the Specified Bank Notes (Cessation of Liabilities) Act, 2017, at Ashok Vihar police station, and investigation was initiated,” a police officer said.
During interrogation, the accused allegedly confessed that they were circulating demonetised currency notes by falsely claiming that these could be exchanged at the RBI, thereby attempting to cheat people. Their actions amounted to cheating, conspiracy and a clear violation of the Specified Bank Notes Act, the DCP said, adding that they were fully aware that possession of demonetised currency is illegal and had no lawful documents or justification for holding it.
The accused cited personal financial pressures for their involvement, police added.