Two persons were arrested at Abids on Saturday for attempting to exchange demonetised currency in the city, adding to a long list of such attempts that were busted by the police. The Commissioner’s Task Force was tipped off about the two - P. Kiran Kumar and R. Praveen Raj, both involved in real estate. The duo was unable to exchange old currency with a face value of ₹41 lakh before the deadline set by the Government. When they attempted to do so for a commission at Abids on Saturday, they were apprehended. The police had busted several attempts made to exchange demonetised currency. Holding more than 10 of demonetised notes is an offence under the Cessation of Liabilities Act that was notified earlier this year.
