The National Investigation Agency (NIA) on Monday seized over ₹36 crore in demonetised ₹500 and ₹1,000 currency.
The agency says the seizures were made in connection with the investigation of the Jammu and Kashmir terror-funding case. More than a dozen people, even lower-rung separatists, have been arrested in connection with the case.
Exchange bid
“The NIA is investigating a case relating to the financing of terrorist and separatist activities in the Kashmir valley. During the investigation, it had emerged that persons/entities linked to the separatists and terrorists were still in possession of a significant amount of demonetised currency which they could not deposit / convert during the period earmarked by the government. Surveillance was mounted on such persons/ entities. This led to unearthing of a conspiracy wherein a gang of such persons/ entities were making an attempt to convert this demonetised money into valid currency,” the agency said in a statement.
The NIA team allegedly intercepted the gang members at Jai Singh Road near Connaught Place in the national capital on Monday. “Twenty-eight cartons filled with demonetised currency notes of denomination ₹500 and ₹1000 from four luxury vehicles, including two BMWs, were seized,” the NIA said. Those arrested have been identified as Pradeep Chauhan, 47, Bhagwan Singh, 54, Vinod Shreedhar Shetty, 47, Shahnawaz Mir, 45, Deepak Toprani, 60, Majid Yousuf Sofi, 27, Ejajul Hassan, 38, Umar Mushtaq Dar, 27, and Jaswinder Singh, 53.
