Wednesday, January 26, 2011

Money Matters - Who is the culprit in burning currency totalling Rs.5 Crore??

Bellary: Half-burnt currency notes littered among dry thorns left the curious villagers of Alipura, 7 km from Bellary, wondering where so much money came from. And why would anyone want to burn it.

That the notes are real was established by a note-detector machine, police said. According to SP M N Nagraj, the cash is estimated to be around Rs 70,000 to Rs 1 lakh, though the villagers claimed it could have been around Rs 5 crore.

Some unidentified men came with the gunny bags, set them afire and fled the place yesterday in Alipura village, four km from here, police said.

Locals also told the police that some persons dumped at least three more gunny bags into a canal. Police said a search was on for the bags and the incident was being investigated.

Half-burnt currency notes in the denomination of 100 and 500, totalling about Rs four crore, were found scattered around the area, police, who were informed by the locals about the incident, said.

The burnt cash was spotted behind Mahadevatha temple on Sunday evening, when locals were returning home from their farms. The mystery of burnt currency notes remained unsolved on Tuesday. "We are yet to find out why it was burnt. We have not yet traced the source," the SP added.

Additional SP Ashok Kurer said some of the notes were being sent to Bangalore for a forensic report.

Bank officials who examined the half-burnt currency notes said the notes were genuine.