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Three held with Rs 57.50 lakh in scrapped notes

Press Trust of India  |  Hyderabad 

Three persons were nabbed from on charge of illegal possession of demonetised currency with a face value of Rs 57.50 lakh, police said today.

"A police team nabbed B Suresh, M Ramesh, and A Santosh Kumar and found that they were in illegal possession of the old currency notes in denominations of Rs 1,000 and Rs 500. They were illegally trying to exchange the scrapped notes with valid currency on commission basis with agents," said DCP (Task Force) B Limba Reddy.

The trio and the seized currency were handed over to the Gopalapuram Police for further investigation, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 12 2017. 22:48 IST