Bengaluru, May 16: The Basavanagudi police in Bengaluru arrested 10 men allegedly involved in a currency exchange racket and recovered Rs 3.25 crore worth demonetised notes from them.
The arrested are Srinivas Venkatesh (43), Mahesh Mallappa (32), P Karunakara Poomalai (48), Abdul Mujeeb (40), Neelakanta Somashekar (32), H G Jambhana Gowda (62), Narayana Anjanappa (48), Uday Kumar (34), Karthick Sadashiva (32), and P Rudrakumar (47).
The suspects have been booked under sections of 5 and 7 of Specified Bank Notes (Cessation of Liabilities) Act 2017, and were produced before a magistrate and remanded in judicial custody on Monday.
According to the police, they received information on Sunday evening that a few men were indulging in exchange of old currency notes near Dodda Ganesha Temple in a Maruti van.
At around 7.30 pm, they rushed to the spot and confiscated Rs 3.25 crore in demonetised Rs 500 and Rs 1,000 notes from them and arrested them.
However, three men, identified as Prasad, Shashi and Rajendra, managed to escape. The police have also seized the van.
Basavanagudi police have launched a manhunt for the three and further investigations are on to find out the source of the demonetised notes.
Comments
Add new comment