Rs 500, Rs 1,000 notes worth Rs 24 lakh seized in Eluru,Andhra Pradesh

Hyderabad,Nov15:The CCS team of West Godavari Police of Andhra Pradesh on Monday arrested eight persons with Rs 500 and Rs 1,000 notes amounting to Rs 24 lakh.
The accused were trying to exchange the cash in a local market in Somavarappadu of Denduluru Mandal of Telangana when police arrested them.
According to the Eluru police, based on specific information a team headed by central crime station (CCS) DSP nabbed the eight persons with the stash of cash.
Police suspects that the money is unaccounted and the persons were trying to convert it with newly launched Rs2000 currency note.

The seized Rs 24 lakh was in Rs 500 and Rs 1,000 denomination and the suspects were trying to exchange it with the villagers. Two of the arrested persons have been identified as businessmen from Vijayawada. While six others were locals who were employed in various professions.
The accused have been booked under 102 CrPC and further investigation is on.
The CCS team has handed over the money to the Tehsildar for further action.