Rs 1.2 crores demonetized notes seized, 3 arrested

Hyderabad, July 28: The City Task Force Police have arrested 3 persons who were allegedly involved in the exchange demonetised notes worth Rs 1.2 crores near GVK One here on Thursday.

While coming to details, The arrested identified as Saleem Tamimi, a karate coach, L Subba Reddy, a real estate broker, and Mohammed Alim, who owns a tent house business.

Saleem, who is a native of Manchiryal, came to know that some of his relatives were still in possession of demonetised notes and looking to exchange them for new currency notes.

Police said that Saleem agreed to exchange the demonetized notes for commission and took 1.2 crores from his relatives. Then he contacted his other two friends, to help him exchange the notes.

When all the three accused assembled and were discussing in a car near GVK One, the police who got a tip-off about this, nabbed the accused and seized the old notes. They were on the look out for a prospective customer, who could exchange the old notes.

In another case, A man found demonetised currency notes worth Rs 16 lakh in dustbins on Thursday at the railway gate, Vajpayee Nagar, under the Neredmet police station limits.

"Chanda Gangu Bai, 58, found demonetised currency notes of Rs.500 and Rs.1,000 denomination stuffed in a polythene bag in the early hours of Thursday. The woman alerted the passersby, who informed us," said M Jagadish Chander, station house officer of Neredmet police station.

"We registered a case and launched an investigation. We will hand over the currency to the court if we no one comes to claim it," said the inspector.