Bhatkal: The plight of a common man is such that he is forced to stand in a bank queue for hours to exchange his old currency notes with the new one, whereas, on the other hand it has become a business for few to exchange the demonetized currency notes with the commission of 30-40%. In connection with this, the police had carried out a raid in the Sarpan Katta limit of Bhatkal taluk where the illegal conversation of lakhs of rupees from old currency notes to new ones was being carried out on Friday late night. The police have arrested two persons accusing them of illegal supply of money without proper documents.

The police source has identified the arrested persons as Pandlak Gondraya Payi (39) of Mankuli and Imaduddin (31) of Jamia Street. According to sources, a violet-colored bag with 192 Rs 2000 notes, 557 Rs 100 notes, 180 Rs 50 notes and 1000 Rs 10 notes, with the total of Rs 4,50,000 had been seized by the police. The arrested had been presented before the Honnaver court. A case has been registered at the Bhatkal rural police station and ASI SG Naik is investigating the case under the guidance of CPI Suresh Naik.

Real story

The rumors were wide spread among people regarding the illegal exchange of currency notes outside the banks to covert the black money into white and illegal hoardings of Rs 2000 currency notes with the help of bank officers and police from past 5-6 days. A business of converting black money to white with the commission of 30-40% has also begun across the town. A number of agents were born for the business. It is said that there were many partnerships in the business without the discrimination of political parties and religions. Collecting old currency notes on one side and distributing the new notes on other was being carried out rapidly. One such practice was reportedly being carried out at Sarpan Katta on Friday night, but the hoarders of money were successful in fleeing away when the police reached the spot, the sources said.

Speaking to Sahilonline in this regard, the income tax officer of Karwar Mr. Nandan has said that a strict eye has been kept on all the dealings being carried out in Bhatkal. He said that the dealings might be however carried out; finally money has to be brought to the bank in one way or the other. He has said that the Central Law of Income Tax of 2016 will not spare any of the victims involved in illegal dealings.