Two arrested with Rs 1.13 crore in demonetised notes

Two persons, including a woman, were today arrested on charges of possessing and trying to exchange demonetised currency notes with a face value of Rs 1.13 crore, police said.

The woman, Manjula R Joshi, and her friend K Naga Venkata Gowri Shankar Gupta, were arrested last evening near a hotel in Panjagutta when they were allegedly trying to exchange the scrapped notes with a face value of Rs 1.13 crore, a release from the Hyderabad Police said.

However, the release did not elaborate with whom they were trying to exchange the demonetised bills.

Joshi is a native of Jewargi in Kalaburgi district in Karnataka, while Gupta is a resident of Machilipatnam town in Krishna district of Andhra Pradesh. Both of them are in real estate business, the release said.