Chandigarh Businessman Caught with Rs. 2.19 Crore Cash

Cash cash cash! No one has enough. While we all are standing in long queues outside ATM to get a small amount, this Chandigarh based businessman has been caught with Rs. 2.19 Crore. The news came out when a raid was conducted at his residence in Sector 22 by the Enforcement Directorate (ED). Interestingly, a combination of new currency notes and the old demonetized notes were found amounting to a whooping Rs. 2.19 crores.

We all might not even have a single note of demonetozed Rs. 500 or Rs. 1000 note but the seized amount of Rs. 2.19 crores comprised of Rs. 1.5 crores of demonetised currency notes and Rs. 69 lakhs+ of the new currency. Out of this figure of 69, around 49+ lakhs consisted of notes of Rs. 100 denomination, Rs. 17+ lakhs in Rs. 2000 denomination, 12.5 thousand in Rs. 500 denomination with the rest amount covered by Rs. 10, 20 & 50 denominations.

About The Raid Conducted:

This raid was conducted in Sector-22, Chandigarh at the house of Inderpal Mahajan, who is the owner of Mahajan Cloth House in Sector-30, Chandigarh. This raid lasted for around 7 hours in total. A case has been registered and the accused has been arrested. A few bank officials are also suspected to be involved herein who will also be arrested soon after they are identified of the fraud. The illegal cash was found to be stacked in a bed box, trunk and a bag. Apart from this, four lockers have also been seized in this process.

Mahajan has been sent to a four days police remand where he will be asked about the bank officials involved in the act. He has been charged for cheating, criminal conspiracy, criminal breach of trust and also has been booked under prevention of corruption act.

Source: The Tribune

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Ajay Deep

Ajay Deep is a young enthusiast who Loves Chandigarh and is always eager to make this beautiful city even more beautiful. A Mechanical Engineer By Chance and Working in an IT MNC by Choice. A Writer, Photographer and a Budding Entrepreneur. A Designer, Developer and Digital Marketing Expert. In brief : A Jack of All Trades and Master of Few :) You may reach Ajay Deep at
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