Chitradurga: The Chitradurga district police have seized illegally possessed coins weighing around 23.82 quintals during the recent raids in various places and arrested four persons in this connection.
A case under Small Coins Offences Act 1971 has been booked against the accused. The law prohibits the possession of small coins more than the requirement for personal or occupational use.
The recovery was made during the raids conducted in Holalkere, Bangalore’s Cottonpet area and in Hyderabad.
Superintendent of Police Labhu Ram told The Hindu here on Monday that the first breakthrough was made in January 25, where a person by name Siddesh (25) in Holalkere bus-stand was nabbed following the report of the accused carrying a heavy quantity of coins.
“During the interrogation, Siddesh, a native of Ramgiri village of Holalkere taluk said he was purchasing the coins by paying an additional 10 per cent at a local place and was selling to a person by name Ravi of Bangalore for Rs. 250 a kg,” Mr. Labhu Ram said.
Continuing the investigation, sub-inspector of Holalkere S.A. Wodeyar was asked to arrest Ravi from Bangalore.
Mr. Wodeyar confiscated around some 365 kg of coins of various denominations between 25 paisa and Re. 1.
Ravi, who was brought here, revealed that he was selling the coins to Anand of Hyderabad. By obtaining court permission for seven days, Ravi was taken to Hyderabad where the police not only arrested Anand but also seized coins weighing 1,819 kg.
Asked for the motive behind possessing such a huge quantity of coins, Mr. Labhu Ram said that they were still investigating the case to establish the motive.
However, he made it clear that the coins were genuine, and not counterfeit.
He said that all the four persons were under judicial custody.
The police have sought court’s permission to hand over the custody of Anand for interrogation, he added.
Deputy Superintendent of Police A.H. Chippar said that around 165 coins with denomination of Re. 1 weighed around 1 kg. Some 200 coins of 50 paisa and some 440 coins of 25 paisa weighed a kg each. “The accused used to purchase the coins by paying just 10 per cent more than the actual value and sell them for Rs. 250 a kg,” Mr. Chippar said.