New Delhi, January 17: The Uttar Pradesh Police has seized demonetised currency worth over Rs 95 crore from a residential premises in Kanpur. The action came on the basis of input by the National Investigation Agency.Also Read - Dengue, Viral Fever Outbreak Wreaks Havoc Across India, Nearly 300 Patients Hospitalised in UP's Kanpur | Key Points

The raid is underway and the exact amount of money would be ascertained later, sources said. The input suggested that some accused persons were hoarding the money with demonetised currency notes of Rs 1,000 and Rs 500 worth over Rs 80 crore, Times of India reported. Also Read - UP Rains: 24 Dead in 3 Days as Walls, Houses Collapse Due to Heavy Rain in Uttar Pradesh

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“We received information of the presence of demonetised currency worth crores at a person’s residential premises in Kanpur. A raid was conducted, and RBI and I-T department officials were informed about it. The final amount is not yet ascertained as search and counting are underway. The questioning is on,” Kanpur SSP AK Meena said.

A police official said that a builder from Sisamau led the team to the site where the demonetised currency was stocked. It is being suspected that the cash was hidden with an intention of converting them into legal currency through illegal means.

“We got the information that huge amount of demonetised currency was being stored in an under construction house in the Swarup Nagar locality of Kanpur…Since there was no terror angle involved, the information was shared with the UP police and a joint raid was conducted,” said a senior NIA official who spoke on the condition of anonymity, the Hindustan Times reported.

On January 14, demonetised currency notes with a face value of Rs 1 crore were seized from a vehicle at Uppiliapuram in Tamil Nadu and four persons detained in this connection, police said.

Two months ago, the NIA recovered Rs 36 crore worth demonetised currency from nine persons in Delhi in connection with its Jammu and Kashmir terror funding probe. The federal agency is set to file its chargesheet this week.

The central government had on November 8, 2016 banned the use of old Rs 500 and Rs 1,000 notes. The government had then introduced new Rs 200, 500 and 2000 notes to meet the cash crunch.