Rs 3.25 cr demonetised notes recovered in Karol Bagh area, 5 held

New Delhi: In a joint operation conducted by the Income Tax Department and Crime Branch, a total of Rs 3.25 crore in old notes of Rs 500/1000 denomination were recovered from a hotel in Karol Bagh area of the national capital, police sources said today.

They said the team carried out the raid in Hotel Taksh Inn last night on receiving a tip-off that some people from Mumbai and Rajasthan had been making regular visits in the hotel for the purpose of conversion of black money into white, with the help of some money exchangers of Karol Bagh area and arrested five people in connection with the case.

All of them have hoarded pile of cash illegally through Havala and they were about to carry this cash to Mumbai, sources said.The arrested people were identified as Ansari Affan, Fazal Kausar Khan, Ansari Abuzar, Ladu Ram and Mahaveer Singh. (UNI)