Eight Arrested With Unaccounted Cash of Rs 58 Lakh in New Notes
Eight persons were apprehended here on Monday and unaccounted money of Rs 58 lakh in new Rs 2,000 notes was seized from their possession, police said.
Image for representation (PTI)
Hyderabad: Eight persons were apprehended here on Monday and unaccounted money of Rs 58 lakh in new Rs 2,000 notes was seized from their possession, police said.
The eight persons were apprehended after finding Rs 58 lakh in their possession during vehicle checking, a police release said. They belonged to different places in Telangana and Andhra Pradesh.
"During the course of inquiry, they stated they collected the amounts from local people of their respective native places, villages on 8 to 10 per cent commission basis.
"They came to Hyderabad with an intention to exchange the new currency of Rs 2,000 with old currency of Rs 1,000 or Rs 500 with commission of 25 to 30 per cent to make easy money. On further inquiry with them about the exchange of old currency, they stated that they will return to the people from whom they collected the amounts and again they will deposit in their respective accounts," the release said.
The apprehended persons, along with the seized unaccounted new currency and seizure report, would be sent to the Income Tax office for initiating appropriate action against them as per Income Tax Act, the release added.
Support the daily wage earners who have been hit the hardest by the COVID-19 crisis. Click here to contribute to the cause. #IndiaGives
The daily News18 Coronavirus COVID-19 newsletter - Get your copy here.
Recommended For You
- Angrezi Medium Starring Irrfan, Kareena Kapoor and Radhika Madan Re-released on Streaming Platform
- Kolkata Sweet Shop is Giving out Bizarre 'Corona Sandesh' for Free to Spread Awareness
- Have You Bought a Coronavirus Insurance For Your Family? You Can Buy These Policies Online
- Is Hydroxychloroquine The Treatment For Coronavirus? Global Scramble For Tablets Suggests so
- Hyundai Venue Beats Maruti Suzuki Vitara Brezza to Become Best-Selling Compact SUV in India