Police on Saturday seized demonetised currency notes having face value of ₹ 1.30 crore after arresting two persons Allada Jayakumar and Gundu Narasimha Mudiraj.
A resident of Guntur, Jayakumar was in financial crisis when one of his friends offered him 10 per cent commission if he can exchange demonetised currency notes. Kumar approached Mudiraj who found ‘clients’ ready to do it for a commission of 30 per cent. On Saturday, Kumar came to Jubilee Hills in a car carrying the old currency notes and met Mudiraj.
On a tip-off, Hyderabad Police Commissioner’s Task Force (Central) sleuths caught the duo and seized the demonetized currency notes.
