Hyderabad: A 33-year-old man was arrested
from Panjagutta area today for allegedly trying to exchange
demonetised currency having a face value of Rs 90 lakh, the
police said.
Ch Satya Haribabu, who is into real estate business,
was held when he was trying to exchange the scrapped currency
notes of Rs 500 and 1,000 denominations, a Hyderabad Police
release said.
According to police, Haribabu had last month received
Rs 90 lakh demonetised currency from one Koteshwar Rao, who
too is into real estate business, and brought the money to
Hyderabad from Vijayawada for exchanging the same for a
commission.
Rao is absconding, police said.
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