Police Seized 1.85 crores scrapped notes

Hyderabad May 08: Task Force police arrested 13 persons here on Sunday who were trying to exchange old notes for the new currency.

According to Police, the accused procured the banned notes illegally after demonetization and were illegally trying to exchange them with new currency on commission with agents near Hockey grounds in Begumpet. Police seized Rs 1.85 crore old notes of Rs 500 and Rs 1,000 denomination, along with 2cars and 13 Cell phones.

Kamal Kabra, Vishal Kumar, Khanhaiyalal Agarwal, T. Narender Agarwal, Deepak Agarwal, Y.Ajay Kumar, Rajendar Agarwal, Mohd Mazar, Khamruddin Mohd ,Raja Rao.M, Mohd Waseem, Praveen Raju.R and N. Raju are the 13 Members who got arrested.

Accused Kamal Kabra, Khanhaiyalal Agarwal, and Vishal Kumar together possessed denominations worth Rs 50 lakh, Deputy commissioner of police of task force B.Limba Reddy, said. Deepak Agarwal and his friends Narender Agarwal, Ajay Kumar, Mohd Mazar and Rajender Agarwal came in contact with Vishal Kumar.

The accused informed that they also have old notes of Rs 1.1 crore, During their conversation. All the accused wanted to exchange with the new currency.

Rajender Agarwal shared information about Khamruddin, Raja Rao and his friends Mohd Waseem Praveen Raju and Raju who have contacts to exchange the new currency.

The DCP said, 'All the accused gathered at Hockey grounds in Begumpet and were discussing, about the exchange old notes and they offered 35 per cent commission for doing it.

The task force police have nabbed the accused and seized the old notes from them.' The Police arrested the accused members, seized the cash and handed them to Begumpet police for further investigation.