Bengaluru, Apr 14 (Deccan Chronicle): The Bengaluru Police on Friday conducted raids at the office and residence of former corporator V Nagraj alias Bomb Naga, in connection with a kidnapping case.

However, what they found was a stash of demonetised currency notes totalling Rs 25 crores in value, said an NDTV report. After 5 hours, the notes were still being counted.

Some sharp weapons were also recovered from Bomb Naga’s house.

Nagraj was not at home, following which the police broke the lock and searched the premises.

"On complaint of kidnapping for ransom and robbery, East division of Police of Bengaluru city conducted search and seizure operation here against V. Nagraj, who has been rowdy for a while and was involved in various criminal cases also. On the order of honourable court, we have conducted the raid. Still the search operation is going on," Additional Commissioner of Police Hemant Nimbalkar said to ANI.

"We have recovered some old currency and the counting is still going on. At the same time, sharp edged weapons and some documents pertaining to property are also recovered. The investigation will draw light that for what reason such a huge amount of cash was there especially of old currency and the way he kept the currency is also suspicious. Investigation is still on," he added.

In 2004, Nagraj contested the Assembly elections from the Gandhinagar constituency against Karnataka Pradesh Congress Committee (KPCC) working president Dinesh Gundurao. He lost the elections with a margin of 500 votes.

Throwing light on this case, Nimbalkar said the complainant was kidnapped on the pretext of showing a piece of land to him, and he was called to a particular place. He was later kidnapped from that place. The kidnappers also took away all his money. They, however, later released him on ransom and threatened him not to file any police complaint.