Man held by Saki Naka police for keeping Rs 5 lakh in old denomination notes

In connection with possessing old denomination notes of Rs 500 in surplus quantity, the Saki Naka police have arrested an accused on Saturday. The accused identified as Aslam Baig (45) who is a resident of Dongri was under police scanner for a while and later while Saki Naka police received an information that Baig was to deal the currencies with another person and for the same, he bought Rs 5 lakh in total in forms of old denomination notes of Rs 500 near Gaondevi Dongri area of Andheri east.

The patrolling team of the police, nabbed Baig from the spot and later he was taken to police station for questioning. 

“Since he was consistently reluctant to admit his crime, he was finally charged under section 5 and 7 of the Specified Bank Notes Act and was arrested for the said offence. Baig is an engineer and note ban had not proved fruitful to him in monetary terms so he was indulged in such activities. He has been sent to police custody by the court and other necessary investigation is under progress. As of now, we do not sense any big racket operating behind we are still suspecting such activities and concerned persons are under police radar.” said a police officer of Saki Naka police station.