The curious case of cast away currency

Money mania
Last Updated 12 June 2012, 19:15 IST

The lure of lucre is just too strong to be ignored as even torn pieces of currency notes can send people into a tizzy.

Mounds of bits and pieces of currency notes were found in the garbage dump at the Guggarahatti industrial area on Bangalore Road on the outskirts of the city, instantly attracting the attention of the people on Tuesday.

Srinivas of the Krishna Plywood Industries, in the industrial area had purchased 400 sackfuls of old and torn notes through tender from the Reserve Bank of India (RBI) in 2010, which recalls soiled currency notes.

The notes are cut into pieces and are sold through tenders to plywood units, police told Deccan Herald. Srinivas usually got raw material for his unit from Indore in Madhya Pradesh, but that year decided to procure the raw material from RBI.

When it was found that the pieces of the currency notes were unfit to be used in the manufacture of plywood, the company had dumped mounds of them in a corner on its premises.

A cleaner employed by the company disposed of one of the currency mounds along with waste, and it made its way to the garbage dump. A few members of the public brought the matter to the notice of the Gandhinagar police.

The police made thorough inquiries and traced the source of the currency mounds to Krishna Plywood Industries.

They examined documents with regard to the tender and purchase of the old notes from RBI and seized sackfuls of the old currency stored in its premises.

The police have registered a case and are investigating.

(Published 12 June 2012, 19:15 IST)

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