Bellary’s new surprise – Sacks of shredded notes

Around 300-400 bags filled with shredded currency notes were found in a plywood factory in Bellary.

Last Updated: Jun 12, 2012, 15:38 PM IST

Zeenews Bureau

Bangalore: It is said Bellary has no value for money – flush with thousands of crores of mining rupees, the small town in northern Karnataka has been in news for the activities of its mining barons. The adage was proved once again on Tuesday when 300-400 bags filled with shredded currency notes were found in a plywood factory.

The notes, which appear to have been intentionally shredded and crushed, were recovered by the police when it raided the plywood factory today morning.

Some reports pegged the value of the currency at Rs 4 crores, however given the huge number of bags, the value could be much higher.

The owner of the plywood factory claimed to have bought the “consignment” – shredded pieces of paper - from Indore, a few months back, to turn it into plywood and had no clue about the money.

A police team has already left for Indore to probe matter even as a team from the Reserve Bank of India is scheduled to arrive in Bellary to probe the matter from their end.

Interestingly, it is not the first time Bellary has been in news for its excesses. Last year, Rs four crore worth of currency notes were burnt by mining goons to prevent their seizure.

Reports had also claimed that a large amount of money was also thrown into a canal when the CBI and the Lokayukta were hot on the trail of the riches of Bellary’s infamous mining barons.