9 Arrested For Trying To Exchange Rs3.48 Crore Worth Old Notes

Hyderabad: Nine persons were arrested on Sunday for possessing and trying to exchange old currency with face value of Rs 3.48 crore on commission basis with agents.

“All the accused persons gathered at SR Nagar along with demonetized currency in denominations of Rs 1,000 and 500 and were trying to exchange it through agents for commission,” Task force DCP B. Limba Reddy said.

The official added that, the accused committed offence under sections 420, 511 and relevant sections of the Specified Bank Notes (cessation of liabilities) Act, 2017. Further probe is on.