In probably the biggest old notes heist post demonetisation, the Chennai police on Thursday recovered 45 crore from a costume tailoring shop in Kodambakkam. Police raided the place early Thursday morning, getting a tip off and found 11 bags with bundles of old notes. The shop- MV Ramalingam &Co- from where the money was seized is a tailoring shop, which specialises in stitching uniforms for government employees.

However, when the owner was questioned, he said that the money did not belong to him, but a city jewellery shop owner. He also said that the money stashed in the shop was meant to be exchanged and that the actual owner had requested him to keep the money till the time he found a way to exchange them legally. On investigating, the police found that the owner of the money had a jewellery shop in Sowcarpet as well as a finance firm in Teynampet.

The money was stashed in 11 bags

Police said that the seized cash would be handed over to the RBI and no arrest would be made. It is also reported that the Chennai police has made such a big raid for the first time after the demonetisation of old notes that came into effect on November 8. Similar raids were made earlier, but those did not account for such huge amounts. Notes worth Rs 1.02 crore and Rs 3.45 crores were raided in two different incidents.