Kasaragod: Demonetized currency worth Rs 7 Cr seized; one arrested

Team Udayavani, Mar 21, 2024, 5:29 PM IST

In a significant development, approximately Rs 7 crore worth of demonetized currency notes, with a face value of Rs 2000, were discovered in a house situated in Ambalattar, Gurupuram.

Acting on confidential information received by District Superintendent of Police PB Joy, a team led by Ambalattar CI K. Parjeesh conducted a raid on the premises and successfully seized the notes. Subsequently, a suspect has been apprehended by the police in connection with the incident.

The house, belonging to Baburaj but rented out to Abdul Razak for a monthly sum of Rs 7,500, remained under police surveillance following intelligence inputs. Razak, who purportedly operated a hotel business in Kalyodu, resided in the house with his family.

During the raid, demonetized notes were discovered concealed in various parts of the house, including thermocol boxes, cardboard, and sacks, located in bedrooms. The police have initiated investigations to ascertain whether Razak had any accomplices, with efforts focused on examining the serial numbers of the confiscated notes.