Police seized old notes worth ?

Hyderabad, June 02: As we knew that, Since Demonetization many of the people has been arrested by the police officials in the name of having scrapped notes or exchanging the notes to the new one.

Here again, an incident happened that, City police on Thursday arrested two persons along with demonetised currency worth Rs 10.66 lakh. The two were identified as Deepak Kumar Modani (40) of Begum Bazar and Mohammad Abdul Raoof (43) of Falaknuma.

Police said Deepak had brought the money, in denominations of Rs 1,000 and Rs 500 from his relatives in Rajasthan, after promising them to get it exchanged on a commission basis.

Raoof connected him to one Sayeed, and accordingly, were about to exchange the old currency with him at Masab Tank for a commission of 18 per cent, when they were arrested. Sayeed is absconding.