Did Delhi Police Uncover a Rs 3.59 Crore Demonetised Currency Racket?
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Synopsis
A major demonetised currency racket has been busted in Delhi, leading to the arrest of four men. They were circulating old currency notes claiming they could be exchanged at the Reserve Bank of India. The police recovered Rs 3.59 crore in notes and are investigating further to uncover the entire network.
Key Takeaways
- Delhi Police uncovered a major demonetised currency racket.
- Four suspects arrested for circulating illegal Rs 500 and Rs 1,000 notes.
- Recovery of demonetised notes valued at Rs 3.59 crore.
- Police are investigating connections to a larger network.
- Illicit financial activities are being actively pursued by law enforcement.
New Delhi, Dec 11 (NationPress) The Delhi Police have successfully dismantled a significant operation centered around demonetised currency, apprehending four individuals who were reportedly distributing old Rs 500 and Rs 1,000 notes while deceitfully asserting that these could be exchanged at the Reserve Bank of India, according to officials on Thursday.
This operation, spearheaded by the team from Police Post WPIA under the Ashok Vihar police station, led to the recovery of demonetised notes worth Rs 3.59 crore and the confiscation of two vehicles involved in the illicit activity.
The arrests occurred on December 10, following a tip-off received by Sub Inspector Rohit Chahar. The raiding team, which included SI Mohit Yadav, Head Constable Dravesh, HC Pawan, HC Manoj, and HC Ashwani, detained the suspects near Shalimar Bagh Metro Station Gate No. 4.
The individuals arrested were identified as Harsh (22), Tek Chand Thakur alias Vinod (39), Lakshya (28), and Vipin Kumar (38), all residents of Delhi.
According to police, the gang was misleading individuals by offering old notes at very low prices and falsely alleging that these notes could be exchanged at the RBI using Aadhaar. All of the apprehended suspects confessed to pursuing quick and illegal gains.
Investigators revealed that the men had been in contact with two individuals, Ashish and Tarun, since 2021.
This pair allegedly informed the suspects that they had access to large amounts of demonetised notes and offered commissions for assistance in circulating or exchanging the cash. The suspects claimed they were following instructions received via mobile communication.
Police stated that personal financial challenges prompted some of the individuals to join the scheme. Lakshya, who plans to marry in February 2026, had taken out a loan for the wedding, while Tek Chand faced household and educational expenses.
Vipin, employed in the private sector, was also seeking rapid profits.
A case has been filed under Sections 318(4)/61(2)/62/3(5) of the Bharatiya Nyaya Sanhita and Sections 5 and 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 at the Ashok Vihar police station.
Further investigations are ongoing to locate other members of the network, as stated by DCP Bhisham Singh.
Point of View
It's essential to reflect on the implications of such illegal activities on our economy and the trust in our financial systems. The swift action taken by the Delhi Police highlights the ongoing efforts to combat financial fraud, ensuring that citizens remain protected from such scams.
NationPress
11/12/2025
Frequently Asked Questions
What is the value of the seized demonetised currency?
The seized demonetised currency has a face value of Rs 3.59 crore.
How many individuals were arrested in this operation?
Four individuals were arrested in connection with the demonetised currency racket.
What was the method used by the gang to deceive people?
The gang deceived people by claiming that old Rs 500 and Rs 1,000 notes could still be exchanged at the Reserve Bank of India.
What legal actions have been taken against the accused?
A case has been registered under multiple sections of the Bharatiya Nyaya Sanhita and the Specified Bank Notes Act.
Is the investigation ongoing?
Yes, further investigations are being conducted to locate other members of the network.
