Rs 99 lakh worth demonetised currency seized, five held

Police apprehended the accused on the spot.

Hyderabad, Aug 6: Five persons, including an engineering student, were on Sunday arrested in Hyderabad for allegedly trying to exchange demonetised currency notes with a face value of Rs 99 lakh, which were seized from them, police said.

V Sai Kumar Reddy, along with four others came to Sanjeevaiah Park here last evening along with the old notes in denominations of Rs 1,000 and Rs 500 to exchange them with new currency, a release from Hyderabad Police said.

Police apprehended the accused on the spot, the release added. Further investigation into the case is on.

On July 28, the Delhi Police arrested one person after they recovered Rs 40,000 worth fake currency notes of Rs 2,000, said reports.

On June 15, a man was arrested in Delhi for allegedly printing counterfeit Rs 2,000 notes as fake currency worth face value of Rs 1.78 lakh was seized from him. A raid was carried out by the Delhi Police's Crime Branch on at the accused's house in Shastri Nagar area and 89 fake notes were seized.

In June, the Kerala police seized fake currency and printing machines from the house of a Yuva Morcha leader in Sree Narayanapuram near Kodungallur in Kerala. Police had then said they have seized fake currencies worth over Rs 1.31 lakh.

PTI