Delhi police busts illegal exchange racket, arrests four with Rs 3.5 crore

By FnF Correspondent | PUBLISHED: 11, Dec 2025, 10:27 am IST | UPDATED: 11, Dec 2025, 10:27 am IST

In the latest recoveries of banned currency, Delhi Police have arrested four men and seized demonetised Rs 500 and Rs 1,000 notes with a face value of more than Rs 3.5 crore. The accused were held near Shalimar Bagh Metro Station Gate No. 4 following a raid based on secret information.

Harsh (22), resident of Rohini
Tek Chand Thakur (39), also from Rohini
Lakshya (28), resident of Brij Puri
Vipin Kumar (38), resident of Feroz Shah Road

Two vehicles used by the group were also recovered during the operation.

Accused claimed they could ‘exchange notes at RBI’

During initial questioning, the men admitted they had been collecting old currency notes and offering to exchange them at a fraction of their value, falsely claiming they could get them converted at the Reserve Bank of India. Police say the group was running a clear cheating and conspiracy scheme, violating provisions under the Specified Bank Notes Act.

Investigators added that all four were fully aware that possessing demonetised notes is illegal and failed to produce any documents or justification for carrying such large quantities. Officials said the men were attempting to make quick illegal profits through fraudulent exchange deals.

Police have registered a case and further investigation is underway to identify the source of the notes, the intended buyers, and any larger network involved.