Telangana Cops Seize Rs 1.38 Crore in Demonetised Notes, Arrest 8

Telangana Cops Seize Rs 1.38 Crore in Demonetised Notes, Arrest 8

Telangana Police have arrested eight people in Kazipet after recovering demonetised Rs 500 and Rs 1,000 notes with a face value of Rs 1.38 crore during a vehicle check. The seizure was made near Kazipet Crossroads after police stopped a car they considered suspicious and conducted a search.

According to police, the accused allegedly intended to use the withdrawn currency to deceive people by displaying the old notes and persuading them to provide valid currency in exchange. Along with the demonetised notes valued at Rs 1,38,50,000, officers recovered Rs 6,000 in valid currency, 10 mobile phones and the vehicle.

Police said cases have been registered against all eight accused and they have been remanded. Investigators are examining the alleged operation and checking whether other individuals were involved in the suspected racket.

The seized Rs 500 and Rs 1,000 notes were withdrawn from legal tender during India’s 2016 demonetisation exercise. The recovery highlights how large quantities of the discontinued currency continue to surface years after the notes ceased to be legal tender.

8

Published: 1h ago

cricket blog team

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