Madhya Pradesh: Demonetised currency worth Rs 44.86 lakh seized

Police suspect that he was going to meet someone who exchanges these currency notes on commission basis.

Indore, April 25: A trader has been arrested with demonetised currency worth Rs 44.86 lakh, the police said on Tuesday.

Police got to know that the three businessmen possess scrapped currency notes."Acting on a tip-off, cops arrested a trader identified as Praveen Agrawal 45 near a school on Monday and seized old notes in denomination of Rs 500 and Rs 1000 totalling Rs 44.86 lakh," Tukoganj Police Station In-charge, Rajkumar Yadav told PTI.

He was carrying the scrapped currency in a luxury car bearing a Maharashtra number. Detailed investigations are on, Yadav said.

Earlier on April 11, four persons were arrested and demonetised currency worth Rs 64.30 lakh was recovered from their possession.

PTI