Tamil Nadu Police on Friday seized Rs 45 crore of demonetised currency notes from a tailor shop in Kodambakkam’s Zackariah Colony on Thursday. According to a report by the Times of India, a police team, led by Deputy Commissioner of T Nagar, Saravanan and Chitti Babu, an inspector from Kodambakkam raided a tailor shop that stitched police uniforms. Police reportedly seized four bags full of demonetised notes of Rs 500 and Rs 1000 currency denominations. The owner of the shop, Dhandapani, told the police, that a man named Pathan Gilani, who was a realtor from Pondy Bazar had given him the cash to keep inside the premises of the shop.
The police, reported ToI, was however, suspecting that Dhandapani might have been acting as a middleman or an agent who tried to exchange the old currency notes in return for some sort of a remuneration. The police told reporters that a huge amount of money may have been lying rotting due to the failed attempts of Dhandapani to exchange them. They have, however, submitted a report to the Reserve Bank of India and given it the custody of the money. ToI reported that the case was likely to be shifted to the Income Tax department or the Directorate of Revenue Intelligence.
Since Prime Minister Narendra Modi announced the demonetisation drive on November 8, last year, multiple raids have taken place in Chennai. The Income Tax department is reported to have Rs 130.5 crore and 177 kg worth of gold during these raids.