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In Pune, Congress corporator, four others held for possessing old notes worth Rs 2.99 crore

They were picked up on Thursday

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Five people, including a sitting Congress corporator Sangamner municipal council were detained in Pune for possessing demonetized notes of Rs 1,000 and Rs 500 denomination total worth Rs 2.99 crore on Thursday. Police suspect that these notes were brought to Pune to exchange with new notes with the help of Pune-based middlemen.

Gajendra Abhang is a sitting corporator from Congress from Sangamner municipal council in Ahmednagar district. Apart from him, the other four people who have been detained by the police have been identified as Vijay Shinde, Navnath Bhandagale, Suraj Jagtap and Aditya Ghavan.

Police have registered a case under the Specific Bank Notes (Cessation of Liabilities) Act 2017. Senior inspector Rajendra Mokashi, in charge of Khadak police station told DNA, “Abhang who is a Congress corporator had come to Ravivar Peth area with his accomplices to exchange the demonetized currency on Thursday night. “We received a tip off of the possible exchange and we laid the trap in Ravivar Peth,” Mokashi said.

The police stated that their team managed to nab five people including Abhang from whom police seized 48,000 demonetized currencies. "They had come to Pune to meet some agents who were going to help them in exchanging the demonetized notes. Before the exchange could take place, we managed to detain them," Mokashi added.

Police suspect that a big racket of exchange of currency is involved. "We suspect that these five persons had come to meet some people who are part of big racket involved in exchanging demonetized notes. When we questioned these five persons, instead of cooperating with us, they tried misleading us. We are now finding the whereabouts of the team they had come to meet to uncover the possible illegal currency exchange racket," Mokashi said.

On November 8, 2016, Prime Minister Narendra Modi had announced demonetization of the currency notes of 1,000 and 500 denominations. The Government gave a deadline within which the demonetised notes were to be exchanged in banks. Following the end of the deadline, any exchange of demonetized notes is termed illegal.

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