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Nw: Mangaluru police catch demonetised foreign money notes amounting to ₹1.92 crore

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Accused relate the notes were procured from Shivamogga and Chitradurga districts

Police Commissioner N. Shashi Kumar publicizes seizure of demonetised foreign money notes at a press convention in Mangaluru on November 19, 2021. Photo Credit ranking: HS Manjunath

Accused relate the notes were procured from Shivamogga and Chitradurga districts

Barke police in Mangaluru seized demonetised foreign money notes of ₹500 and ₹1,000 denomination amounting to ₹1,92,50,000 from three persons.

Mangaluru Police Commissioner N. Shashi Kumar told reporters on November 19 that the foreign money notes were seized when the accused were making an are attempting to pass them in a multi-utility automobile. He gave the names of the accused as Zabeer and Hammabba, both working as drivers, and Deepak Kumar, who assists his father who is an electrical contractor; all of them are residents of Mangaluru.

Preliminary inquiry published that the accused procured the foreign money notes from a pair of persons in Shivamogga and Chitradurga districts. The accused reportedly approached a pair of contributors in Mangaluru offering these notes at 20% of their face mark. They claimed that banks would gain such notes at 50% of the face mark below a particular provision, Mr. Kumar stated.

Citing that the demonetised foreign money notes weren’t even rate the cost of the paper they were printed on, the Commissioner instructed contributors no longer to fall prey to contributors claiming to offer demonetised currencies at discounted charges.

The accused were booked for dishonest below the Indian Penal Code and The Specified Financial institution Notes (End of Liabilities) Act, 2017. A particular person voluntarily holding such ceased foreign money notes is at probability of be punished with a ₹50,000 penalty or five instances the face mark of the notes, whichever is higher, below the End Act, Mr. Kumar informed the reporters.

The accused could possibly well be produced in the jurisdictional court on November 19 and their custody could possibly well be hunted for additional probe. Police would test from whom the accused obtained the foreign money notes and to whom they were making an are attempting to offer the similar.

Deputy Commissioners of Police Hariram Shankar (Law & Expose) and Dinesh Kumar (Crime & Web page visitors) and Barke Police Inspector Jyotirlinga Honnakatti were recent.

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