Bengaluru: The Banashankari Police have arrested three persons for allegedly trying to exchange Rs. 88 lakh demonetised money for valid tender. The police informed that the accused were carrying Rs. 500 denomination notes of the demonetised money.
The accused have been identified as Venkat Narayan alias Rajanna M. (60), Hariprasad (53), both natives of Puttaparthi in Andhra Pradesh. and Yoganandam alias Yogesh (39), a resident of Padmanabhanagar.
Police claimed to have received a credible tipoff that several people were waiting to exchange demonetised currency in a car near Kadirenahalli Bridge.
A police team responded quickly to the information and inspected the car and found Rs. 40 lakh of demonetised currency. Following the arrest of the trio, more investigations resulted in the discovery of another Rs. 48 lakh at an accused’s house.
Under various Sections of the Specified Bank Notes (Cessation on Liabilities) Act, 2017, a case has been registered, informed the police.
