Cops in a dilemma to recover stolen money

On one hand demonetisation has reduced burglaries and pickpocketing as miscreants would face difficulty in spending or getting rid of demonetised currencies or because it is not worth taking the risk as people and households are running short of cash. 

On the other hand, victims from whose house money was stolen before demonetisation, are desperately requesting (or pestering) police to help them get back their money before December 30. Obviously, since most of the money stolen from them were Rs 500 and Rs 1,000 currencies that have been demonetised after they were stolen. Among them is the theft of Rs 6 lakh from a Jeep at the Coimbatore District Collectorate just two hours before Prime Minister announced demonetisation. 

“Usually recovery of stolen money is tougher than gold or other valuables. This is because the miscreants can easily spend money. Whereas in the case of gold jewellery they have constraints in selling it and spending money as they cannot sell the loot in one shot. We are trying our best to recover stolen money by focusing on recovering cash,” says a senior police officer said. This is also emphasised in the crime meetings in the recent weeks. 

Lead Bank Manager of Coimbatore District A Kanagaraj said that there would not be any problem for genuine transactions such as depositing demonetised currencies if reason for the delayed transaction (beyond December 30, 2016) was proved legally. “This was made clear by the government when demonetisation was announced. So, victims of theft or burglary need not worry,” he added.

Reiterating his support for demonetisation senior Bharatiya Janata Party (BJP) leader and Rajya Sabha MP Subramanian Swamy cited lack of preparation by the finance ministry as the reason for the crisis faced across the country post-demonetisation. He strongly felt that demonetisation was not a sudden move.

Swamy made it clear that he was only holding the Finance Ministry comprising senior IAS officers responsible for demonetisation and not the Finance Minister (Arun Jaitley) for the fiasco. “Demonetisation was decided long before it was announced. The government could have had a contingency plan,” he told reporters in Coimbatore on Sunday. He recalled that before the 2014 parliamentary election, Prime Minister (PM) Narendra Modi had constituted a committee under Swamy to work out a solution for ending circulation of black money. 

“Alongside demonetisation, we recommended having adequate Rs 100 notes in circulation and for the new currency notes to match the size of the old Rs. 500 and Rs. 1,000 currencies and installing ATMs in all public sector offices to make demonetisation successful. We also recommended cancellation of Income Tax to give relief for the people. But demonetisation was announced without following the other recommendations,” he said. 

“That is why it is difficult now. However, we will overcome it,” he said. About seizure of new Rs 2,000 currencies to the tune of several crore rupees seized from RBI and bank officials and a few businessmen while the layman still waits in long queues at ATMs and banks to get money, he said that the question should be posed to the Finance Minister.

The day-long ordeal over abduction of a couple by the gang hired by a leading builder in the city over delay in getting demonetised currencies deposited in the bank and getting it exchanged came to an end with arrest of the five persons on Saturday night. According to the police, builder N Ramani gave Rs 11.9 lakh to his driver Jayaraj a week ago, who in turn gave it to his friend A Prasanth and Ganapathy. The duo deposited the money in the bank account of Prasanth and two of his friends. 

On a complaint lodged by the builder Jeyaraj and Prasanth were arrested for theft.  On a counter complaint by Prashanth’s mother Uma (who was allegedly abducted by goons hired by the builder) the police booked Ramani, Jeyaraj, J Sivakumar and J Rajarathinam for kidnapping, wrongful confinement and scausing hurt.  They were booked under Tamil N adu Women Harassment Act and lodged in Coimbatore Central Prison.