Five arrested with ₹78 lakh worth of old ₹500, ₹1,000 notes in Vadodara

Even after eight years of demonetisation, old currency notes are still being traded at 10–15% of their face value. 

A land broker involved in selling demonetised currency was caught by the LCB Zone-3 team, along with four others. The team seized 10,540 notes worth ₹78.40 lakh, though these notes now hold no legal value.

Acting on a tip-off, the LCB team apprehended Samant Bharwad, Natha Bharwad, Mukesh Bharwad carrying demonetised currency notes declared invalid by the government. Police seized 2,798 old ₹500 and ₹1,000 notes worth ₹24.98 lakh from them.

During preliminary interrogation, Mukesh revealed that he bought these demonetised currency notes for ₹3 lakh and had plans to sell them for ₹5 to ₹6 lakh. To execute this plan, he set out in an auto-rickshaw with his associates carrying the notes, but was caught by the police.

The notes were bought from Ashok Katwala, following which the police also arrested Katwala and Shailesh Solanki, his associate.

From them, the police seized other 7,742 notes worth ₹53.42 lakh.