Defunct notes of Rs 1.40 crore seized from builder in Ahmedabad; 3 detained

Ahmedabad:Police today seized Rs 1.40 crore in demonetised currency notes of Rs 500 and Rs 1,000 from office of a local builder and detained three persons.

Acting on a tip-off that the builder Anand Hemendra Shah was looking to exchange the defunct currency notes, police raided his office and recovered the amount.

“We had received a tip-off that the builder, who has his office at Ambawadi, was looking to exchange his demonetised currency notes. Upon raid at the office of Anand Builders, we found Rs 1.40 crore in old currency notes of Rs 500 and Rs 1000 denominations,” said Ellisbridge police station inspector B S Rabari.

He said three persons – Shah and his two associates – were detained in this connection and handed over to Income Tax officials for further questioning.

Details:

Builder’s officer was raided from where Rs 1.39 crore value scrapped notes were recovered.

Builder and his two employees areheld.

Raid was carried out in Krishna apartment on tip off. Builder Anand Hemendra Shah(Shandilya Apartment, Vikasgruh road, Paldi) and his employees Dinesh Malji Rabari(Rabari vas, Vejalpur) and Hem Rameshchandr Shah (Prakruti tower, Paldi) were held.

8,106 notes of Rs 1,000 and 11,776 notes of Rs 500 – in total Rs 1.39 crore cash was found out.

Builder claimed it wa spayment account but couldn’t give specific answer regarding its source.

Anand Shah owns Anand Construction firm.