Bengaluru: Four persons were arrested on Tuesday for possessing demonetized notes worth Rs. 99,98,500 and attempting to exchange them for new notes, said police on Tuesday.
“The City Crime Branch (CCB) police, after receiving information on some people exchanging demonetized currency notes for new currency notes, searched a Fortuner vehicle parked near Mayo Hall in Bengaluru Central Business District and seized demonetized currency notes of face value Rs 99,98,500,’’ Dr Chandra Gupta, Deputy Commissioner of Police (Central), Bengaluru said here.
The CCB police have arrested Lakshmipathi, Kantharaja Gowda, Byappa Reddy and Shyam on charges of possessing demonetized currency notes. “The CCB police have seized one Fortuner vehicle and four mobiles from the arrested persons. The police have launched a manhunt for one more accused, Rajeev Gupta, who is at large,’’ Dr Chandra Gupta said.
The police have registered a case against the arrested persons under Section 41(D), 102 and 420 of Indian Penal Code and Section 7 of Specified Bank Notes (Cessation of Liabilities) Act 2017.