Demonetization | Businessman detained with Rs 12 lakh cash at Goa-Karnataka border

A Margao-based businessman was detained at Keri village bordering Karnataka on Monday after he was found possessing Rs 12 lakh in cash, some of it comprising scrapped Rs 500 and new Rs 2,000 notes, police said. "Shahabaz Husain Muzawar was detained during the regular police check at Keri outpost on the Goa-Karnataka border while he was returning from Belagavi (Belgaum). He was found to be in possession of huge cash," Inspector Dipak Pednekar said.

Muzawar was carrying Rs eight lakh in denomination of Rs 100, Rs 500 (old notes) worth Rs three lakh, Rs 1.74 lakh in new Rs 2,000 currency and remaining was in Rs 50, 20 and 10, the officer said. Police have decided to hand over the suspect to Income Tax Department for further inquiry. Police have been keeping a strict vigil on the state border in the wake of the recent demonetization exercise by the Centre.