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7 members including 3 women held over possession of demonetized notes worth Rs 2 crore
Highlights
Seven members including three women were arrested by the Task Force officials on Tuesday over possession of demonetized notes worth Rs 2 crore.
Seven members including three women were arrested by the Task Force officials on Tuesday over possession of demonetized notes worth Rs 2 crore in Vijayawada.
Police officials conducted raids on a house of Nageswara Rao and nabbed him along with others after tracking them down.
The seized cash belongs to Jayachandran, a Chennai-based realtor who planned to exchange the old currency worth Rs 5 crore. He eventually decided to convert Rs 3 crore and took help from Nageswara Rao but was duped with fake currency notes.
Following this, he approached Ramesh Jain in Chennai to exchange the remaining demonetized notes.
A Case has been filed against the accused under Section 7 of Cessation of Liabilities Act 2017 and IPC 406, 420, 120 (B).
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