Acting on a tipoff from reliable sources that lakhs of rupees of black money was coming in a car here, the Kendrapada Town police on Friday conducted a raid on the Cuttack-Chandabali road and seized Rs 25.50 lakh (including demonetised notes of Rs 1000 in 25 bundles and demonetised notes of Rs 500 and some new Rs 2000 notes) kept in a bag in the car.
Police also detained two persons and seized their three mobile phones and car, informed Kendrapada Town PS IIC Sanjeev Kumar Mohanty.
The arrested persons were identified as Paras Nath Saha, owner of Nimachaudi-based Sri Sai Alankar (jewellery shop) and his accountant Durjay Mohanty of Dhanapur under the Mahanga police limits.
The police suspected that the gold businessman brought the amount to provide the amount to some jewellery shops of Kendrapada town to deposit the money in his accounts with an aim to make it white or to avoid Income Tax.
The police asked the family members of the detainees to bring the necessary documents and Income Tax papers to the police station.
Paras Nath Saha stated that he came to Kendrapada town and its adjoining areas to collect money from several jewellery shops as they had taken gold ornaments from him in credit. He collected the amounts from them and was on his way to Cuttack for depositing the money in his account.
But the police suspected a black money angle, for which the money was seized and the duo was detained.