City police nab Kovai men with Rs 90 lakh old notes

According to police, a passenger, who overheard the duo talking over the phone about a large sum of money, informed the CMBT police and a team led by law and order inspector Saravanan intercepted them when they were about to leave by bus to Coimbatore. Police seized bundles of Rs 1,000 and Rs 500 notes kept inside two bags. 

Police then recorded the arrest of Mohammed Rishad (30), from Pothanur and Subair (30) from South Ukkadam under Sections 102 and 41 (ii) of the CrPC and 420 of the IPC. During interrogation, the duo told the police that they were told to meet a person at a lodge in Nungambakkam, where they could exchange the demonetised currency for new notes. 

However, they could not meet the person and were returning home. The duo had gone to Nungambakkam and then to Egmore and from there they boarded a bus to Koyambedu.

“They have not revealed the identity of the owner of the money. We will remand them and send our report to Income Tax department and RBI,” CMBT inspector Saravanan told DTNext. A few days ago, the Kodambakkam police had seized Rs 45 crore worth demonetised currency from the house-cum-residence of a textile trader. 

Police, however, have not recorded the arrest of the accused and handed over the money to the Saidapet Magistrate Court.