Seven Arrested With Demonetised Notes Valued At Rs 78 Lakh In Gujarat's Vadodara
The accused were trying to sell these notes at a discount of 12 per cent.
Published : August 3, 2025 at 9:58 AM IST
Vadodara: Officials from the Panigate Police Station in Vadodara of Gujarat on Saturday arrested seven individuals attempting to sell scrapped Rs 500 and Rs 1000 notes valued at over Rs 78 lakh, nearly eight years after demonetisation, in the Waghodiya Road area of the city.
The Local Crime Branch Zone-3 team of the police, acting on information, seized 10,540 notes worth Rs 78,40,500 from a gang of seven people moving around in vehicles. Police have also seized goods worth ₹6,08,000, including 6 mobile phones, a car and a rickshaw from the accused.
According to Abhishek Gupta, Vadodara DCP, " We had tracked the gang based on specific information. The accused were caught while having breakfast. In the second phase of the investigation, we are thoroughly examining the origin and destination of these notes".
The arrested have been identified as Ashok Kantawala, Shailesh Solanki, Samant alias Jigo Bharwad, Nathabhai Bharwad, Mukesh Bharwad, Ahmed Mansuri, and Vajekan Bharwad. Ashok Kantawala, the prime accused, was found to have most of the scrapped notes.
The accused were trying to sell these notes at a discount of 12 per cent. The police have also started investigating the network behind this fraud. They are investigating how the gang had the notes eight years after they were scrapped.
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