Man held while exchanging the Old notes

Hyderabad, March 10: Already we knew that, Government had announced that, who has demonetized money, that will be treated as criminals.

But Many of people have been trying exchange the banned currency into new currency till now.The greediness of a real estate businessman leads to his imprisonment.This kind of incident occurred at Hayath Nagar.

While coming to details, Police arrested two persons for trying to rob Rs.10 lakh from a businessman at Hayathnagar on Wednesday.The victim was identified as K Bhaskar Reddy, a real estate businessman from LB Nagar.

On Wednesday, Bhaskar went to Anjanadri Nagar in Hayathnagar after his friend Narasimha Reddy said that a few persons were willing to offer Rs.2 lakh commission if he invests Rs.10 lakh in new currency notes with them.

At Anjanadri Nagar, Bhaskar, who was carrying Bhaskar, who was carrying Rs.10 lakh, met Saidireddy, Ramu and Sujata. Saidireddy and Ramu introduced Sujata to Bhaskar as an NRI who has Rs.40 crore in demonetised currency in her possession.

"Saidireddy and Ramu said that they have contacts to exchange the demonetised currency, but they lacked the initial investment to offer to the NRI.They promised to give him Rs.2 lakh as commission once the exchange is done", Hayathnagar inspector J Narender Goud said.

When Bhaskar showed them the cash, Saidireddy and Ramu threw chilli powder at him and tried to snatch it."But Bhaskar resisted and alerted the police. We rushed to the spot and arrested Saidireddy, a cab driver from Mansoorabad and his associate Sujatha, Ramu fled from the spot", the inspector said.