Balaghat, Madhya Pradesh: A racket to change demonetised notes at a 15 per cent commission was busted in this Madhya Pradesh district with the arrest of two youth and over Rs. 15 lakh, out of which over Rs. 14 lakh was in new Rs. 2,000 notes, seized from them, police said on Tuesday.
Balaghat’s Superintendent of Police Amit Sanghi said that police obtained information that the two youth – Amit Sanvre and Abhishek Saraf – were engaged in the racket, and on Monday night, their car was intercepted and searched and the money – Rs. 14,40,000 in Rs. 2,000 notes and Rs. 1 lakh in Rs. 100 notes, found.
Mr Sanghi said that Mr Sanvre confessed he was changing the demonetised notes for a commission but police was yet to find out from where the duo had obtained the new currency notes.
The two youth and the cash have been handed over to the Income Tax Department.