Rs 45 Crores in Demonetised Notes Seized From This Famous Textile Shop in Chennai

May 19, 2017, Chennai

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Chennai, May 19: The Chennai police have recovered nearly Rs 45 Crores in demonetised currency notes from a textile shop in Chennai. The textile store is specialised in making uniforms for government officers including police and other security personnel.

According to the reports, the Chennai Police conducted a raid at MV Ramalingam & Co in Kodambakkam and seized bundles of Rs 500 and Rs 1000 notes amounting to Rs 45 crores from a textile shop in the state.

Cops were amazed to find such a huge stash even six months after demonetisation was implemented. Police sources said that the shop belonged to Dhandapani, who upon being interrogated explained that the money belonged to a jewellery shop owner who had asked him as a favour to hold on to the money until he could find a way to get it exchanged legally. The identity of the jeweller has not been made official by the Chennai police.