Rs 1 crore in demonetised currency seized, six arrested

Hyderabad: The city police today arrested six persons and seized Rs one crore in demonetised currency from them.

The arrested men were identified as Raj Kumar Bagadi, owner of a petrol pump in Putli Bowli area; Ahmed Bin Ali, owner of a sports showroom; Mohammed Salman; Mohammed Shabeer, a textile businessman; Mohammed Ahmed Shareef and Pedda Shetty Reddy Sekar, a retired Postal Department employee.

A team of Central Zone Task Force of police raided Bagadi’s house in Barkathpura area and arrested them with Rs 1 crore in scrapped notes, said a press release.

The accused had planned to get the notes exchanged for valid currency through some middlemen, and gathered at Bagadi’s house for this purpose.

A case was registered at Kachiguda police station and further probe is on.