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02 Mar 2024, Edition - 3154, Saturday

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Coimbatore

Seven held in Coimbatore for exchanging demonetised notes

Covai Post Network

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Coimbatore: Police arrested seven persons in the city for exchanging demonetised currency notes seized two days ago from an apartment in Coimbatore.

Prasanna, Prakash, Krishna Kumar, Mahalingam, Rangarajan, Senthil Kumar and Nattar Raman are arrested and remanded in judicial custody under Sections 506 (i) (criminal intimidation) and (reciting obscene words) of Indian Penal Code (IPC) and the Specified Bank Notes (cessation of liabilities) Act 2017.

Police are in search of Daskadir, the main accused , who fled the scene leaving the demontised notes in the apartment and the car outside.

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Earlier, Prassana, Senthil and Natter had exchanged old currency notes worth Rs 2 crore for 24 lakhs from an unidentified person. A person from Ukkadam approached the accused with a deal to exchange old currency for Rs10 lakh and cheated them giving only Rs 6 lakh. Daskadir and accomplices went on deal with the accused to buy old currency notes worth Rs 1 crore for Rs 12 lakh. When Daskadir was counting the old currency the manager of the apartment, who smelt something fishy, informed the police.

Demonetised currency notes worth Rs 59.99 lakh were seized from the apartment. Police are in search of the main accused and his accomplice.

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