`1.2 crore new currency seized

Hyderabad: City and Cyberabad police have seized over Rs 1.2 crore in new currency notes of Rs 2,000 denomination at three locations since Saturday evening.

The police also seized Rs 11.21 lakh in smaller denominations of old currency notes. In all, 10 persons were arrested in connection with the three cases.

In one case, the Saidabad police on Saturday arrested three persons – B Vasu Goud, B Venkatesh and M Mohan, an employee of the central bank – and seized Rs Rs 2,000 currency notes totaling 29,76,000 from their possession. The police said they were negotiating with some people for exchanging the new currency notes with demonetized currency notes at a commission of 15 percent.

In another case, the Shadnagar police in Cyberabad arrested two persons – M Chandra Reddy and P Shiva Reddy, while another accused Satyanarayana Goud gave a slip to the police. According to police, the accused were heading towards Kothur from Shadnagar in a car on Saturday night. One of them jumped out of the car and took to his heels as he noticed police conducting vehicle checking, while two others were caught by the police.

The police found Rs 71 lakh in new currency notes of Rs 2000 denomination and Rs 11.21 lakh in smaller denominations being smuggled in the car for exchanging the same with demonetized currency notes. The police also seized the car, currency notes counting machine and two cell phones from the accused. Efforts are on to nab the absconding accused.

In the third case, the Kukatpally police arrested four persons – Ch Mohan, D Vinod, K Srinivas and G Ayyappa – all natives of Andhra Pradesh – and seized Rs 20 lakh in new currency notes of Rs 2,000 denomination.