Over Rs 6 crore in old notes seized in West Delhi

Delhi Police Crime Branch on Tuesday evening raided a house in West Delhi's Janakpuri and recovered more than Rs 6 crore in old currency notes. One person was apprehended and the income tax department was roped in.

The man from whom the currency was recovered was identified as Anil Jain. According to the police officials, the raid was conducted following a tip off and a bundle of notes were recovered in denominations of Rs 500 and Rs 1000.

However, the officers said that exact amount could not be established as the raid continued till late. "The amount is apparently more than Rs 6 crore. Income Tax department has been called and the matter is being probed. The currency is in denomination of 500 and 1000 old notes," said a senior police officer.

Police said primary probe revealed that that the man was exchanging old currency notes with new currency notes in the ratio of 50:50, to earn profits. However, they said this is yet to be established.

Further inquiry is being conducted, police said.