Two held for exchanging old currency, Rs 1.13 Crores seized

     Written by : SMTV24x7 | Fri, Aug 18, 2017, 04:02 PM

Two held for exchanging old currency, Rs 1.13 Crores seized

Hyderabad, Aug 18: The Task Force Police have arrested two persons involved in real estate, including a woman, who were in possession of demonetized currency notes (Rs 500 and Rs 1000 denominations) worth Rs 1.13 crore.

They were exchanging currency notes in Shanbagh hotel at Punjagutta, the officials said on Thursday.

According to Task Force officials, they raided the hotel on a tip-off on August 16 and apprehended Manjula R Joshi (37) resident of Visakhapatnam and native of Gulbarga, Karnataka and K Naga Venkata Gowri Shankar Gupta (48) resident of Machilipatnam, AP. The arrested were engaged in real estate business.

"As per their plan on August 16, she visited Punjagutta along with the old currency notes and tried to exchange the demonetized currency in the hotel room. We apprehended the accused persons along with demonetized currency notes worth Rs.1.13 Crores", said B Limba Reddy, DCP, Task Force.

The accused along with the seized currency were handed over to Punjagutta Police Station for further investigation.