61-yr-old woman held with banned notes worth Rs 26 lakh

 An alert member of the public helped the police nab a 61-year-old woman who was trying to exchange old notes worth over Rs 26 lakh through her contacts in Girinagar on Monday.
The arrested has been identified as Krishnakumari Kamat, a resident of Malleswaram. She was booked under a new Section where mere possession of old bank notes of Rs 500 and Rs 1,000 is an offence, the police said. According to the police, Krishnakumari ran a foreign tours and travels agency in Vyalikaval. Since she had contacts with non-resident Indians, she may have got involved in the money exchange racket to make a quick buck, the police suspect.

On March 30, Krishnakumari was standing near Vivekananda Park in Girinagar and speaking to another person over her phone. An alert bystander suspected the woman’s involvement in a money exchange racket. He immediately alerted the police as the woman was also carrying a travel bag.

The Girinagar police arrived at the spot in plainclothes and questioned the woman. The woman told the police that she ran a foreign travel firm and knew several NRIs who wanted their notes exchanged. When the police sought an account and papers for the Rs 26,54,500 she had with her, she had no answer. The police told her they were arresting her since possession of the demonetised currency was an offence and produced her before a magistrate. She was released on bail after sureties and bond formalities.

The police seized 2,955 notes of Rs 500 and 1,177 notes of Rs 1,000 from her. “We have also analysed her call detail records and she was in touch with one Chandramma to exchange the notes.” According to her, Chandramma in Girinagar, had contacts of many NRIs with whom the duo were trying to exchange the demonetised currencies.