Ahead of LS elections, over Rs1.60 cr cash seized from vans violating RBI's norms

Over Rs 1.60 crore in cash was seized from two vans intercepted under suspicious conditions here Thursday for violating RBI norms amid restrictions clamped under the model code of conduct for the upcoming Lok Sabha elections, police said. Rs 1.37 crore was seized when one of the cash vans, both belonging to the CMS company, was found near Behlolpur village under Noida Phase 3 police station limits at around 12.45 pm during a routine check, a senior official said.

"Two men, identified as Vijay Kumar and Rahul, were held from the spot after they failed to provide any satisfactory answer about the source and proposed destination of the cash," Gautam Buddh Nagar SSP Vaibhav Krishna said. The cash van also did not have any CCTV camera, hooter, GPS device, fire safety equipment or a security guard, he said, adding that all this was in violation of a Reserve Bank guideline of April 4, 2018 for cash vans.

In accordance with Election Commission guidelines, the matter has been reported to the Income Tax department, he said, adding that a case has been registered at the Phase 3 police station also under the Private Security Agencies (Regulation) Act, 2005. Another van of the CMS company was intercepted during checking by Sector 24 police station team and cash worth Rs 31 lakh was seized after three of its occupants, including the driver, failed to provide any authentic document, police said.

Two other occupants who identified themselves as the company's employees also did not have any valid identity cards or documents but said the cash van was destined to an ATM in Bishunpura, Nithari, police said. "This cash van also did not have any CCTV camera, GPS device, hooter or fire safety equipment in violation of the RBI guidelines," police said.

Both cases were under investigation and a detailed report would be presented to the Income Tax department, the SSP said. Noida, part of Gautam Buddh Nagar parliamentary constituency, goes to polls on April 11.