A Mumbai-based businessman approached the Bangur Nagar police claiming that he had been duped of Rs 2.25 lakh by two women under the pretext of exchanging US dollars at a cheap rate. The victim claimed that the women instead of giving him US dollars duped the victim by giving him newspaper scrap.According to the victim, Hanif Shaikh, he met a woman near Malad West who showed him a $20 currency note and asked him to help her convert it to Indian Rupees as she didn’t understand what exactly it was. Thinking that the woman is genuine, Shaikh got the note converted returned the money to her. The woman told Shaikh that she was working at an international citizen’s house who gave her few household items in which she got 1,335 of such notes. The woman offered to give all the notes to Shaikh which amounted to around Rs 18 lakh and asked him to pay Rs 3 lakh in return.However, after exchanging the notes for Rs 2.25 lakh, he found that there were newspapers cuttings in the shape of notes instead of US dollars.”I had checked all the notes before taking it from them but I don’t know how did they tricked and exchanged original with a duplicate bundle. She cheated me stating that she cannot deposit it in the bank as she does not have a bank account and hence she cannot get it converted. Later I learnt that it’s a gang who trick people with same modus operandi,” said Shaikh.
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The Directorate of Revenue Intelligence (DRI) on Saturday recovered demonetised currency of Rs 48.91 crores in 500 and 1000 denominations from Gujarat’s Bharuch district.The DRI recovered this amount after they conducted sleuth in an office premise in Bharuch, named M/S Yamuna Building Material.Also readDemonetisation played a great role in combating terrorism: Nirmala SitharamanAs per the Specified Bank Notes (Cessation of Liabilities) Act, 2017, fine of about Rs 245 crores are expected to be slapped on the owner of the company and other charges will be framed on them after further investigation.The intelligence agency will be filing a complaint in the court against three in the matter.Further details are awaited. Also readDNA Exclusive: Post demonetization, Bitcoins new ‘black’ in property market
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<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Special Cell of Delhi Police has arrested a man in possession of counterfeit currency in denomination of Rs 2,000 notes amounting to around Rs 7 lakh rupees. The currency was being pumped in through Malda, West Bengal and Nepal and alter circulate in Delhi, UP and Bihar. The accused Kashid said that he has been indulging in transportation and circulation of Fake Indian Currency Notes (FICN) for the last 15 years. Kashid told the police that after demonetisation in 2016, supply of FICN had stopped but from the last four to five months, the supply of counterfeit currency has once again pumped up. The currency is pumped through bordering states and being adjacent to neighbouring countries Malda has become hub of FICN. The accused stated that many persons in Malda are indulging in the circulation of FICN. Recently the NIA also apprehended a resident of Malda with FICN worth about Rs 9 lakhs. He also revealed that he procured the supply of FICN from a person from a neighbouring country who delivers the consignment at the border, by throwing the consignment packet above the wire fencing.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Three days after the Anti Extortion Cell of Mumbai police arrested two people from Mumbai’s Dongri for possessing counterfeit Rs 2000 denomination worth Rs 4.8 lakh, the police suspect that the notes have been smuggled into the country from Bangladesh.Police had received a tip-off that the duo would be at Dongri, following which a trap was laid. On their arrival, they were apprehended and subsequently arrested.After seizing the currency, the police found that the duo, who hail Malda district in West Bengal were coming to Mumbai every fortnight. They would pose as labourers, but would distribute the notes. According to the police, the seized notes are of high quality and it’s difficult to come to conclusion that they are fake, without seeking the opinion of an expert.However, the same serial numbers on the notes raised suspicion of police. “The accused hails from Malda, which is close to the Indo-Bangladesh border. We suspects that the currency which is of superior quality may have been smuggled from Bangladesh. The modus operandi of the accused was that, they would go at the crowded market places and would distribute notes there. Due to the quality of the currency, it is difficult to determine whether the notes are authentic or fake,” said a senior police officer.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The National Investigation Agency (NIA) and Central Bureau of Investigation (CBI) have sought details of the Fake Indian Currency Notes (FICN) case being probed by the Directorate of Revenue Intelligence (DRI) in Mumbai. The case might soon be taken over and investigated by any one of these agencies following a report provided by the Nashik mint about the quality of the seized notes. The report stated that at least 15 of the 30 features of the seized Rs 2,000 and Rs 500 notes have been successfully copied by the FICN-maker from Islampur in Bangladesh.In a month-long operation, DRI sleuths arrested six persons, including Congress office-bearer Haji Imran Alam Shaikh, his uncle Zahid Shaikh and Khar-based builder Mahesh Alimchandani. The DRI has so far seized Rs 24 lakh FICN from the arrested persons.”We had sent the seized notes to Currency Note Press in Nashik for their report on the view and quality. They informed us that the seized notes had good quality pages, good quality printing, ink, embossing of Mahatma Gandhi and water colour marks which made them look genuine. In fact, security threads were also there in all the seized notes,” said a security establishment official, requesting anonymity.He added that because of the newness of the notes, the FICN-maker could not copy all the security features.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Supreme Court on Tuesday gave citizens a reason to cheer after it directed the Centre and the Reserve Bank of India (RBI) to consider accepting extinguished Rs 500 and Rs 1,000 notes on a case-to-case basis. The Centre and the RBI have been given two weeks to respond, and the matter is likely to be heard again on July 18.Hearing petitions, the apex court directed the Centre to consider opening a window that would allow people with genuine problems to exchange the scrapped notes.”You (Centre) cannot be allowed to deprive a person of his money if he couldn’t deposit it due to some genuine problem. What if someone is terminally ill and couldn’t deposit the money,” a Bench comprising Chief Justice of India JS Khehar and Justice DY Chandrachud stated.The top court’s observation rekindled hope for those who were unable to exchange the demonetised currency within the prescribed time limit. The notes were declared void on November 8 last year, and citizens were allowed to exchange the scrapped notes till December 30. The government had further stated that those who missed the December deadline could deposit the notes at select RBI branches till March 31, 2017.Earlier, the government had stated in the court that it was a conscious decision to not extend the deadline to deposit old notes, except for certain categories of people who were allowed to deposit notes until March end.However, legal experts say there are doubts over the validity of the order as the judiciary can only interpret the laws, not challenge the legislation itself. These experts believe that the government is on strong ground after the passage of the Specified Bank Notes Bill in February, which ended the liability of these currency denominations between the RBI and the government.Even if the Supreme Court has its way and the government offers a window for people to deposit their old notes, it could be a tall order for a lot of people. Anyone returning old notes will need to explain why s/he could not do so before the deadline expired on December 30. Towards the end of December, the central bank had issued a circular to banks asking them to accept deposits above Rs 5,000 only once during the remaining period till December 30, 2016. Even if people get an opportunity to convert their old notes, they may have to face questions from the Income Tax department at a later stage.Appearing for the Centre, Solicitor General (SG) Ranjit Kumar said the policy was not individual-centric and that he would seek instructions to consider whether such an opportunity could be given on a case-to-case basis.The SG’s statement was in complete contradiction to that made by former Attorney General Mukul Rohatgi, who had earlier argued that the Centre would not open any window to deposit old notes.In the last few months, several such cases wherein people were unable to exchange the money within the deadline have come to the fore. Sudha Mishra, who had filed the initial petition in the SC, had stated that she got married early in 2016 and gave birth to twin girls in November the same year. At the time of the delivery, she was at her parents’ house in Ranchi, Jharkhand. As a result, she was unable to deposit some cash that she had received as gift during her wedding.Another petitioner, Sarla Shrivastava, 71, lost her husband in April, 2016. When demonetisation was announced, she searched her house and found Rs 190,000. In January, 2017, however, while going through her husband’s possessions, she came across Rs 179,500 more that he had squirrelled away, and which now needs to be exchanged.
<!– /11440465/Dna_Article_Middle_300x250_BTF –> Yet another attempt to conceal demonetised notes was busted as the Surat Police arrested five persons owing to the possession of the same. On Sunday, the police nabbed five persons in possession of notes worth Rs. 5,81,70,500. Prime Minister Narendra Modi’s demonetisation drive was rolled out on November 8 last year, imposing a ban on the circulation of Rs. 500 and 1000 notes, with subsequent circulation of Rs. 2000 notes that were printed to balance the cash flow. Citizens were allowed to exchange their notes until December 31, 2016, following which the ban would be imposed. However, in case of NRIs living abroad, the Reserve Bank of India (RBI) revealed that they would be given time till June 30, 2017 to exchange notes up to Rs. 25,000. Anybody possessing money more than the aforementioned limit would be deemed as an offender. Under the Specified Bank Notes (Cessation of Liabilities) Act, 2017, which was passed in March 2017, it is illegal for Indian citizens to hold more than ten notes of the invalid currency after March 31, 2017.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –> Agents of Hyderabad?s Commissioners Task Force, North Zone on Sunday detained 13 persons in possession of demonetised Indian currency notes of Rs. 500 and 1000, totalling up to Rs. 1,85,00,000. Along with this, the police also seized two cars and 13 cell phones. The perpetrators, under the pretext of illegally exchanging these notes, were nabbed while attempting to exchange them with agents. Post Prime Minister Narendra Modi?s demonetisation drive that was rolled out on November 8 last year, a ban was imposed on the circulation of Rs. 500 and 1000 notes, with subsequent circulation of Rs. 2000 notes that were printed to balance the cash flow. Citizens were allowed to exchange their notes until December 31, 2016, following which the ban would be imposed. However, in case of NRIs living abroad, the Reserve Bank of India (RBI) revealed that they would be given time till June 30, 2017 to exchange notes up to Rs. 25,000. Anybody possessing money more than the aforementioned limit would be deemed as an offender. To this effect, D.C.P, of the Commissioners Task Force, Hyderabad, Limba Reddy, said the accused took possession of notes from such NRIs under the pretence of getting the notes exchanged in time, and also levied a commission on the same. ?The accused made false promises to the NRIs of exchanging the notes and in the process, we recovered these notes. I appeal to the people to not fall for such promises. Please surrender the demonetised money, since possession and exchange of the notes are also considered an offence,? he said. Under the Specified Bank Notes (Cessation of Liabilities) Act, 2017, which was passed in March 2017, it is illegal for Indian citizens to hold more than ten notes of the invalid currency after March 31, 2017.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Fake currency notes of Rs 2,000 denomination with the face value of Rs 7 lakh have been seized by the BSF after an operation along the Indo-Bangladesh International Border (IB) in West Bengal’s Malda district. The incident occurred around 8:30 PM last night when a Border Security Force (BSF) patrol laid an ambush in the Churiantpur border post area of Malda to nab Fake Indian Currency Notes (FICN) smugglers active along this border. Officials said the troops noticed a packet being flung from across the IB fence gate even as some miscreants were also spotted on both the sides. While the smugglers managed to escape when they were challenged by BSF personnel, they said the patrol party seized five packets which had 350 fake notes of Rs 2,000 denomination having a face value of Rs 7 lakh. The seized FICN has been handed to the Kaliachak police, they added. With this, the BSF has so far seized FICN having face value of Rs 21.98 lakh and apprehended two FICN smugglers this year from the border area here. The Kaliachak and Malda areas of West Bengal along the border are notorious for FICN smuggling. In 2016, BSF’s South Bengal Frontier (comprising five border districts of West Bengal) had seized fake currency with face value of over Rs 1.47 crore and arrested 19 smugglers.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>No ‘high quality’ fake currency notes have been recovered post demonetisation, although some scanned/photocopied notes were seized by BSF and NIA at the Indo-Bangladesh border, Parliament was informed today. Minister of State for Finance Arjun Ram Meghwal said the government has been taking a host of steps, including setting up of a special cell in the Home Ministry, to deal with the menace of FICN (Fake Indian Currency Notes). In a written reply to the Rajya Sabha, Meghwal said: “No high quality FICN has been recovered post demonetisation.” The government had scrapped old currency of Rs 500 and Rs 1,000 on November 8 and replaced them with new Rs 500 and Rs 2,000 notes. As regards seizure of FICN of 2,000 denomination by BSF and NIA on the Indo-Bangladesh border, Meghwal said: “The forensic lab had reported the use of stamp paper in printing these notes. These notes have been scanned/photocopied. Examination of the specific parameters reveals that the notes are of low quality.” The government on its part, he added, has taken various measures to combat terror funding and check smuggling and circulation of fake notes. These initiatives including setting up of a special Combating Financing of Terrorism (CFT) cell in the Home Ministry of coordinate with the central intelligence/ enforcement agencies and state law enforcement agencies for an integrated approach to tackle the problem. Also, he added, a Terror Funding and Fake Currency Cell (TFFC) has been constituted in the NIA (National Investigation Agency) to investigate terror funding and fake currency cases. In addition, he said, a memorandum of understanding was signed between Indian and Bangladesh to prevent and counter smuggling of fake notes into the country. Replying to another question on the same subject, the minister said that new design banknotes in the Mahatma Gandhi (New) series have been introduced in the denomination of Rs 500 and Rs 2,000 to check counterfeiting. “Incorporating new security features/new designs in the bank notes to stay ahead of the counterfeiters is an ongoing process,” said Meghwal, adding that the new series notes will also be introduced in notes of other denominations in due course.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>BSF troops seized a cache of 48 Fake Indian Currency Notes (FICN) of Rs 2,000 from a man who was apprehended along the Indo-Bangla border in Malda town of West Bengal. Officials said the seizure of the FICN in new notes with a face value of Rs 96,000 was made last evening from Baishnabnagar area of Malda near National Highway-34, as part of an intelligence based operation. This is the second such seizure along the South Bengal frontier of the Border Security Force that comprises five border towns of West Bengal. The BSF said it apprehended Nadia resident Shariful Shah (32) with the cache as he was allegedly carrying the notes and was attempting to board a bus from the highway. “The quality of the 48 Rs 2,000 notes, with the face value of Rs 96,000, is better than what was seized by the force sometime back along the India-Bangladesh International Border last week when 100 such notes were seized,” they said. More details about the quality of notes will be ascertained by concerned agencies, the BSF said. Shah has been handed over to Malda police for further interrogation about the source of fake notes of Rs 2,000. “Cash worth Rs 820, a mobile phone and an Aadhaar card was also seized from his possession,” they said. Last week, the force had seized a packet of similar FICN containing 100 notes of Rs 2,000 from a mango orchard in the border town of Malda. It was then said that these 100 notes, flung in a packet from across the border, had copied at least 8-9 features out of the total 17 on the original currency. The West Bengal Police had earlier seized 40 such fake notes from a man in Murshidabad, that also lies on the Indo-Bangla International Border in West Bengal.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A man wanted in a case of trafficking of Fake Indian Currency Notes (FICN) has been arrested by NIA officials from West Bengal’s Malda area.Mohammed Ashraful, was wanted in a case registered initially by Kerala Police pertaining to the seizure of high quality FICN having face value of Rs 67,000 from migrant labourers hailing from West Bengal. Ashraful was arrested on Tuesday, an NIA official said today. In this case, six accused were arrested initially and FICN was recovered from each of them, while three others including Ashraful, had managed to escape. NIA has filed charge sheet against the six arrested accused persons under various Sections of Indian Penal Code, before a court in Ernakulam and trial of the accused has commenced on January 3. Ashraful was produced before the NIA special court at Kolkata which sent him in transit remand for five days for producing him before the competent court at Kochi, the official said. I