The demonetization removed high-value notes of 500 and 1000 from market making them invalid for the daily transaction. As promised by MODI government Rs. 2000 notes came into the market with limited dissension capacity from ATMs as well as from Bank counters. People could hardly manage to get their hands on 2 notes of 2000 at one time. Under such circumstances, the Crime Branch of Goa Police caught hold of two people in Porvorim Goa with cash worth 70 lakh in the denomination Rs. 2000.
According to the available information from the reliable sources, the Crime Branch of Goa Police had managed to detain two people in Porvorim, North Goa, with the huge cash worth 70 Lakh in the denomination of Rs. 2000 currency notes. The Crime Branch police have disclosed the names of accused as Ramesh Narvekar and Siddu.
The sources revealed that while police caught the accused while they were in process of ferrying cash on Activa two wheeler. Some sources also claimed that the money belongs to some highly influential political person from Goa but there is nothing to prove this allegation.
The reports have revealed that North Goa SP Karthik Kashyap was instrumental in cracking these cases. Superintendent of Police Karthik Kashyap told reporters that that two persons identified as Ramesh Narvekar and Siddhu have been detained on a tip-off after they were caught by the police ferrying the cash on a scooter in the jurisdiction of the Porvorim police station in North Goa. “The Income Tax Department has been informed and a further source of new currency is being assessed by them. The duo has been detained and is being questioned,” he said.
Mr. Kashyap also added that Crime Branch had conducted raids on various locations in Goa and recovered total Rs. 1.5 crore cash of new Rs. 2000 notes. “The Crime Branch had conducted raids and recovered 35 Lakh from Ponda in South Goa. In all, in 24 hours Goa police have seized Rs. 1.5 crore new currency notes,” he said.
Mr.Kashyap said that the crime branch had informed the Income Tax department and they are in process of finding out the source cash. “The Income Tax Department has been informed and a further source of new currency is being assessed by them. The duo has been detained and is being questioned,” he said.
The demonetization has been implemented to crush the black money market but now it looks like another demon of high-value currency is in process of formation of bigger black money demon which will be more powerful and severe than former. It looks like the new notes of Rs. 2000 would result in generating a black money in less space. It is quite possible that the police has recovered just a tip of an iceberg. Only the time will tell whether the demonetization was right or right.
NEWS SOURCE : VARIOUS SOURCES | IMAGE SOURCE : SOCILA MEDIA