Acting on intelligence input, Surat Police raided a residence in Bhimpore village and made arrests. Of the four people arrested in the case, three are from Surat while one is from Navsari.
"The suspects have been identified as - Naresh Ranchhod Patel, Vineet Rajnikant Desai, Mohammed Shadiq Mohammed Safi Shaikh and Manish Rajput - who are connected to the real estate sector, particularly engaged in land brokerage. This connection “The seized assets have raised suspicions about possible misuse of the currency within the real estate domain,” sources said.
"Authorities have begun investigating the origin and intended use of the demonetized currency. Questions are being raised as to how these individuals acquired such large amounts of illicit currency and what are the wider implications of financial crime in the region. It There is an ongoing fight against organized crime and money laundering within the city limits." Additional sources.
On 8 November 2016, Prime Minister Narendra Modi announced the demonetization of high-value currency notes with the aim of curbing black money and corruption.
The decision, communicated through a late-night address on national television, also led to the introduction of new denomination notes of Rs 500 and Rs 2000, heralding a period of economic reform amid widespread public reaction.
"The suspects have been identified as - Naresh Ranchhod Patel, Vineet Rajnikant Desai, Mohammed Shadiq Mohammed Safi Shaikh and Manish Rajput - who are connected to the real estate sector, particularly engaged in land brokerage. This connection “The seized assets have raised suspicions about possible misuse of the currency within the real estate domain,” sources said.
"Authorities have begun investigating the origin and intended use of the demonetized currency. Questions are being raised as to how these individuals acquired such large amounts of illicit currency and what are the wider implications of financial crime in the region. It There is an ongoing fight against organized crime and money laundering within the city limits." Additional sources.
On 8 November 2016, Prime Minister Narendra Modi announced the demonetization of high-value currency notes with the aim of curbing black money and corruption.
The decision, communicated through a late-night address on national television, also led to the introduction of new denomination notes of Rs 500 and Rs 2000, heralding a period of economic reform amid widespread public reaction.