Madhya Pradesh: Demonetised currency worth Rs 44.86 lakh seized

Police suspect that he was going to meet someone who exchanges these currency notes on commission basis.

By PTI

Published: Tuesday, April 25, 2017, 15:16 [IST]

Indore, April 25: A trader has been arrested with demonetised currency worth Rs 44.86 lakh, the police said on Tuesday.

A trader arrested with Rs 44.86 lakh in demonetised notes. Image for representation only.

Police got to know that the three businessmen possess scrapped currency notes."Acting on a tip-off, cops arrested a trader identified as Praveen Agrawal 45 near a school on Monday and seized old notes in denomination of Rs 500 and Rs 1000 totalling Rs 44.86 lakh," Tukoganj Police Station In-charge, Rajkumar Yadav told PTI.

He was carrying the scrapped currency in a luxury car bearing a Maharashtra number. Detailed investigations are on, Yadav said.

Earlier on April 11, four persons were arrested and demonetised currency worth Rs 64.30 lakh was recovered from their possession.

PTI

Published On April 25, 2017