Udham Singh Nagar police have arrested two persons from Kashipur and recovered Rs 79.45 lakhs in old Indian currency notes in the denomination of 500 and 1000. The accused had planned to exchange these notes into new Indian currency through NRI quota. The accused have been identified as Jasvinder Singh alias Pappu and Paramjeet Singh alias Sonu, residents of Udham Singh Nagar. A case under appropriate sections 420/511 of IPC, section102 of CrPC, sections 5/7 of president assents specified bank note (cessation of liabilities) ordinance 2016 was registered against the accused in the police station, Kashipur.
The Police received a tip off about two persons who were carrying old Indian currency notes and waiting for some person at Pant Park, Kashipur. Acting on the tip off, a team led by Kashipur police station in-charge Chanchal Sharma reached the spot and arrested the accused after failing to answer satisfactorily. In course of investigation, it was revealed that five lakhs were recovered in the denomination of 500 and Rs 24.45 lakh in the denomination of 1000. The accused revealed that they had earlier worked in exchanging Indian currency notes based on commission as above cash around Rs 79.45 lakh could not exchanged. They have not any written documents related to this amount worth Rs 79.45. Someone had called him at Pant park to exchange this money into new Indian currency notes. Police recovered Rs 54 lakh from the possession of Jasvindar while Rs 25.45 lakh from Paramjeet.