New Delhi: In a bid to exchange old notes, a 63-year-old elderly businessman from Mumbai was duped of Rs 57 lakh by four men.

Siraj Dalal is a Mumbai businessman who wanted his Rs 57 lakh in old denominations to be changed with the new RBI notes. Dalal said that he wanted to buy a new house with the money.

However, when Dalal became reliant on one of his relative’s associate for successful exchange of the currency, the accused men decided to go abscond with the money. “I wanted to buy a new house for which I wanted to change my old Rs 500 and Rs 1,000 notes. So I met Ali through one of my relative’s employees, Oan Ali, who accompanied me along with my son to Mustafa Bazar for the meeting on November 12,” Dala mentioned in the police complaint.

The four accused man promised Dalal that even though they might not be able to exchange the money, they would be able to ensure that Dalal is able to buy his house. On the day when the incident purportedly took place, the money was placed in one car and Dalal and his son was instructed to go to another car and wait for them. However, when they were returning to their car, the associates ran off with the money.

Appropriate cases have been registered under the Indian Penal Code (IPC).