Old currency seized worth of Rs.44.7 Crores

Chennai, May 19: The Chennai Police have arrested a person and seized Demonetised currency worth of Rs 44.7 from him here on Thursday.

While coming to details, The scrapped currency in Rs 1,000 and Rs 500 denominations was recovered on a specific tip-off, from the premises of one Dhandapani in Kodambakkam here, they said.

The man is being questioned, the police said, adding information about the money seizure was shared with Reserve Bank of India too.

However, the police in Thane district of Maharashtra seized nearly Rs 1 crore in demonetised currency notes from three people, who were later arrested.

Acting on a tip-off, the police intercepted a car at Parsik circle in Mumbra township of Thane district around midnight on Tuesday.

They found Rs 1 crore in old notes in Rs 500 and Rs 1,000 denominations in the possession of three people, including a woman employee of a private bank, an official release issued by the Thane police said on Thursday.

The three were planning to get the notes exchanged for new bills. They were later arrested and a case was registered against them under relevant sections, Thane police PRO Sukhada Narkar said.

Police are trying to find out from where the accused got the junked notes, Narkar said.