Cops intercept suspicious car in Telangana, find Rs 1.38 crore in demonetised currency

Telangana Police arrested eight people in Kazipet and seized demonetised Rs 500 and Rs 1,000 notes worth Rs 1.38 crore during a vehicle check.

In Short

• Accused planned to exchange old notes for valid currency
• Police seized old notes, valid cash, phones and a car
• Cases registered; investigation ongoing for more involvement

Police in Telangana's Kazipet have arrested eight people and seized demonetised 500 and 1,000 currency notes with a face value of Rs 1.38 crore.

According to police, the accused allegedly planned to cheat people by showing them the old currency notes and obtaining genuine, valid currency in exchange for them.

The arrests were made during vehicle checks near Kazipet Crossroads. A police team led by Kazipet Inspector Jakkula Shyam Sundar intercepted a suspicious car and searched it, recovering a large quantity of demonetised currency.

Police seized old notes worth Rs 1,38,50,000, along with Rs 6,000 in valid currency, 10 mobile phones and a car from the accused.

Kazipet ACP Pingili Prashanth Reddy said cases have been registered against all eight accused and they have been remanded. Police are investigating whether more people are involved in the alleged racket.

The seized currency comprises old 500 and 1,000 notes that were withdrawn from legal tender following the 2016 demonetisation.

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