Two held with scrapped notes of Rs 1.28-cr in Bengaluru
Team Udayavani, Mar 24, 2017, 10:57 AM IST
Bengaluru: Two persons were arrested here for possessing demonetised high-value currency notes of the face value of Rs 1.28 crore in and attempting to exchange them for new notes, the city police said on Thursday.
“Jemmy Rahul, 34, from the city, and Ajay, 26, from Uttara Kannada district in the coastal region, were arrested and the old currency notes were seized from them,” Bengaluru Police Commissioner Praveen Sood told reporters here.
The duo was arrested under Section 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017, which entails a six-month imprisonment.
“On a tip-off, the City Crime Branch (CCB) police searched an apartment building in the city’s western suburb and seized a car from its basement in which the accused had kept the banned notes to exchange for new ones,” said Sood.
Sood announced a reward of Rs 25,000 for the CCB team for busting the racket.
After the central government banned old Rs 500 and Rs 1,000 currency notes on November 8, Parliament enacted the Specified Bank Notes Act to eliminate a parallel economy of demonetised notes.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Uber launches women-only bike rides in Bengaluru
Former MLC and Ex-Deputy Chairman Keshavarav Tatyarav Patavari (Nitturkar) passes away at 102
Rains lash Bengaluru, coastal districts of Karnataka
Panchamasali agitation intensifies in Karnataka
Mute Boy from Puttur gains speech by Lord Ayyappa’s grace
MUST WATCH
Latest Additions
D. Gukesh makes history as the Youngest World Chess Champion
Amit Shah’s three-day visit to Chhattisgarh’s Naxal-hit areas to start Saturday
CAG reports on liquor, pollution sent to LG for placing in assembly: Delhi govt to HC
Uber launches women-only bike rides in Bengaluru
Two held for killing man in Noida de-addiction centre
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.