It is alleged that the booking clerk posted at Itarasi station in Madhya Pradesh entered in a criminal conspiracy with a private company having eateries after notes of Rs 1,000 and Rs 500 were demonetised on November 8, 2016.
He allegedly deposited in Railway Account banned currency notes amounting to more than Rs 61 lakh on November 9 as Advance Yearly Licence Fee for the units at Itarsi & Bina Railway stations.
He said searches were conducted at four places, including the residence and office premises of the booking Clerk and proprietor of the said private firm at Itarsi district which led to recovery of several incriminating documents.