Chennai: Chennai police on Saturday seized Rs 3.42 crore worth old banned notes of Rs 1,000 and Rs 500 denominations from a van parked in posh JJ Lakshmi avenue in Manapakkam near Na-ndambakkam.
Police managed to detain two of the three occupants of the van. This is the biggest seizure of banned notes in Chennai since December 31, the day after which any type of transaction using old banned notes became illegal.
The two, identified as Kannan, 42, of Besant Nagar who works as a transport manager of a private hospital and Krishna Mohan, 53, a sub-contractor, told police that they were waiting for a person living in the locality to hand over the money.
Policemen on patrol got suspicious because the van was parked there for a very long time. And when the policemen went near the vehicle the three occupants tried to escape. Cops could only catch Kannan and Krishna Mohan while Prasad of Hyderabad managed to flee.
During vehicle check, police found the cash bundles wrapped in blue polythene cover and hidden under the seats.
The duo further told the police that the money was given to them by a doctor for exchanging new valid notes at 30 per cent commission. A man residing in JJ Lakshmi avenue was supposed to collect the money and give the new notes over a period of one month.
The two also said the man living in the area was a contact of Prasad. The two were taken for questioning and police are on the look-out for Prasad. Police believe that at least two more persons are involved in the case.
