Hyderabad: The South Zone Police arrested Four Persons in connection of Demonetized Indian Currency, that on 26-01-2017 at about 20:30 hours, Bahadurpura Police of South Zone apprehended four persons During the Vehicle checking nea Bahadurpura X road with banned old currency notes denomination Indian Currency of Rs. 2,53,00,000/- (Two Crore Fifty Three Lakhs only, 1000 x 21546, 500 x 7508) Rs 500/-and 1000/- with planning to exchange the old currency with the new currency on percentage basis.
The arrested Accused persons are P. Amith Bagadi, K.murarialal, Kataram Raju, and Vishnu Bati. The Police while conducting vehicle checking near Bahadurpura X Roads along with staff, one Maruthi Eeco van Bearing No TS-09EW-5853 tried to speed away from Police, on seeing this Bahadurpura police chased the Eeco vehicle and found four Persons in the vehicle in fear and on checking the said vehicle found demonetized Indian Currency of Rs. 2,53,00,000/- (Two Crore Fifty Three Lakhs only) of (1000 X 21546 Notes and 500 X 7508 Notes), the Police registered a case in Crime No 16/2018, U/s 5 & 7 of Specified Bank Notes (Cessation of Liabilities) Act 2017 and took up the investigation. The Police Seized property from the accused: Demonetized Indian Currency of Rs. 2, 53, 00,000/- (Two Crore Fifty Three Lakhs only) of (1000 X21546 Notes and 500 X 7508 Notes) and One Maruthi Eeco van Bearing No TS-09EW-5853
It is noticed that youngsters/ Youth are attracted to such illogical ways of easy earning through exchange of demonetized Indian currency which is highly impossible. Also, the RBI, Hyderabad was contacted and they cleared that there is no such provision of exchange of old Indian currency of Rs 1000 & Rs500, as the time limits of exchange of old currency with new currency is completely over. Also the RBI Hyderabad cleared the time limit to exchange the old denomination currency of Rs. 1000/- & Rs. 500/- was 31st December 2016 and in special category for NRI and people who were outside Country were given time limit till June 2017 and as of now there is no window/counter available at RBI Hyderabad to exchange such old denominated currency with new currency. it is advised to the youth of Hyderabad City not to indulge in such activities and not to attract to such false things and end their future with criminal cases.
The aforesaid persons were arrested along with the Rs 2,53,00,000/- (Two Crore Fifty Three Lakhs only, 1000 x 21546, 500 x 7508) seized unaccounted demonetised old currency notes of Rs. 500/- and 1000/-. Concerned Income tax department and RBI are being consulted to take further action against.
