Hathras (UP), Aug 1 (PTI) A large cache of coins upto Rs 10 were seized from the shop and house of a stationery trader during a raid by the district administration here on Saturday, officials said.
The raid was carried out at the shop of Naveen Kumar in Nayaganj and his nearby residence in Hanuman Gali after authorities received information that a large quantity of coins had been stored there. Around 70-80 sacks filled with coins of Rs 1 to Rs 10 were recovered from the two premises, the officials said.
Sub-Divisional Magistrate Raj Bahadur Singh said the trader was not present during the raid. However, a relative present at the spot told officials that the business involved exchanging coins at a commission of three to four per cent. He claimed packets containing coins worth Rs 500 and Rs 1,000 were transported to destinations such as metro and railway stations in Delhi and that the coins were sourced from the State Bank of India.
The SDM said the coins included both new and old currency and were being shifted to a currency chest. He said the administration would investigate how such a large quantity of coins was procured and determine the total value of the seizure.
Singh termed the alleged trade in such a large quantity of coins illegal and said action would be taken against those involved in accaordance with the law. He added that if any counterfeit currency was found during the investigation, more stringent legal action would follow. The exact value of the recovered coins and the purpose for which they were being stored will be known only after the probe is completed, he said. PTI COR CDN SHS SHS
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