Scrapped notes of Rs 99 lakh face value seized, five held

Five persons, including a BTech student, were today arrested here for allegedly trying to exchange demonetised currency notes with a face value of Rs 99 lakh, which were seized from them, police said.

V Sai Kumar Reddy, along with four others came to Sanjeevaiah Park here last evening along with the old notes in denominations of Rs 1,000 and Rs 500 to exchange them with new currency, a release from Hyderabad Police said.

Police apprehended the accused on the spot, the release added.

Further investigation into the case is on.