Delhi Police seize over Rs 3.5 crore in demonetised notes; four held for illegal exchange racket

New Delhi [India], December 11 : Decovered demonetised currency notes of Rs 500 and Rs 1,000 with a face value of more than Rs 3.5 crore and arrested four men allegedly involved in an illegal exchange racket, officials said on Wednesday.
According to police, a team from PP WPIA conducted a raid near Shalimar Bagh Metro Station Gate No. 4 based on secret information and apprehended four accused: Harsh (22), Tek Chand Thakur (39), Lakshya (28) and Vipin Kumar (38). Two vehicles used by the group were also seized from the spot.
"During enquiry, they admitted to exchanging these demonitized notes at a fraction of their value by falsely claiming they can be exchanged at the RBI, forming a clear case of cheating, conspiracy and violation of the Specified Bank Notes Act," said officials.
Police added that none of the four had any valid documents or legal reason to hold the banned notes, indicating that they were allegedly attempting to "make quick money".
"All four persons above know that possession of such demonitized notes is illegal, and they did not have any justified document or cause for holding them. They are involved in this matter to make quick money," officials added.
The case has been registered, and further investigation is underway.
Meanwhile, in another incident, the Delhi Police District Investigative Unit (DIU) conducted a raid in the Alipur area after receiving information about an illegal factory allegedly involved in manufacturing infringed Castrol products, officials said.
Based on information, a raiding team was constituted under the guidance of Narender Khatri, ACP/DIU, and the supervision of Hareshwar Swami, IPS, DCP/OND. Officials from Castrol Limited were also included in the raiding team.
The DIU/OND team acted promptly, following due procedure, and, along with officials of M/s Castrol Limited, conducted a thorough search at the factory located in Alipur, Delhi.
A large quantity of finished and packaged infringing products from Castrol Limited was recovered.
In total, 239 litres of infringed oil were ready for supply in the market, 304 empty bottles meant for packing infringed oil, 3,000 Castrol barcode stickers, 706 Castrol bottle caps and 11,220 MRP stickers of different Castrol products were seized.
Additionally, one sealing machine, one iron, one plastic funnel, one 1-litre measuring tool, one oil pump, one gauge, and one litre of orange-coloured liquid dye used in manufacturing the infringing products were also recovered.
The recovered infringed products were found under the brand name "Castrol Limited". Due to the prompt action taken, a large recovery was made.