Property dealer held with new currency notes to the tune of Rs 9 lakh

RUDRAPUR: A property dealer carrying new currency notes worth Rs 9 lakh was apprehended by police at Khatima road in Sitarganj on Wednesday. Even as he claimed that the money was accounted for, he failed to give satisfactory answers during interrogation. Police has informed the income tax department for further investigations.
“Acting on a tip-off, police nabbed property dealer Mahendra Agrawal while he was travelling in his car with 450 notes of Rs 2,000,” said Devendra Pincha, assistant superintendent of police (ASP) US Nagar.
Pincha further said that Agrawal claimed that the money was accounted for, but failed to give satisfactory answer regarding the source of money.
“It is astonishing that a man could possess such a huge amount in new currency notes, while rest of the residents are still queuing up outside ATMs and banks,” the ASP said.
He said that the property dealer has been handed over to the I-T department, where he has to produce valid documents to account for cash. “In case he fails to produce appropriate documents, he will face legal action under various sections of the law,” Pincha said.