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Nine persons held for trying to exchange old notes
Nine persons were on Sunday arrested on charge of illegal possession and trying to exchange junked currency with face value of Rs 3.48 crore on commission basis with agents, police said. \"All the accused persons on Sunday gathered at S R Nagar along with demonetised currency in denominations of Rs 1,000 and Rs 500 and were trying to exchange it through agents for commission,\" Deputy Commissioner
Hyderabad: Nine persons were on Sunday arrested on charge of illegal possession and trying to exchange junked currency with face value of Rs 3.48 crore on commission basis with agents, police said. "All the accused persons on Sunday gathered at S R Nagar along with demonetised currency in denominations of Rs 1,000 and Rs 500 and were trying to exchange it through agents for commission," Deputy Commissioner of Police (Commissioner’s Task Force) B Limba Reddy said.
The arrested persons included realtors and a doctor among others. They were charged under IPC Sections 420 (cheating), 511 (attempting to commit offences punishable with imprisonment for life or other imprisonment) and relevant sections of the Specified Bank Notes (cessation of liabilities) Act, 2017, the DCP added.
