The gang was going to hand over the cash to their acquaintance to exchange with new currency notes for a huge commission.
Old Rs 1,000 and Rs 500 notes were cancelled on November 8 last year.
Hyderabad: The Central Zone Task Force police busted an eight-member gang and recovered an estimated Rs 8 crore in demonetised currency. The police stopped two vehicles in which the gang was travelling at Basheerbagh and recovered the cash from bags.
The gang was going to hand over the cash to their acquaintance to exchange with new currency notes for a huge commission.
The mediator was identified as Sai Krishna and the main accused Govindulu. Police suspects that the cash belonged to multiple individuals, believed to be realtors and traders.
( Source : Deccan Chronicle. )
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