Three held for exchanging old currency notes

Hyderabad: West Zone sleuths nabbed three persons here on Wednesday, who procured old currency notes of Rs 500 and Rs 1000 denominations illegally. After the demonetisation, the accused were illegally trying to exchange the old notes of Rs 500 and Rs 1000 with new currency notes near BK Guda Community Hall, SR Nagar and seized old currency notes worth Rs 44,48,500, four cell phones and a TATA Zest silver colour car from their possession.

The accused were identified as P. Sridhar, 46, of Bhagyalatha Colony, Vanasthalipuram, and native of Vidyadharapuram, Vijayawada; D. Srinivasa Rao, 40, native of Surya Towers, Piduguralla, Guntur; K. Krishna Reddy, 43, of Prashanth Nagar, Kukatpally.

The police said P. Sridhar shifted to Hyderabad in 2013 along with his family members. D. Srinivasa Rao and K. Krishna Reddy have become friends of P. Sridhar. The accused along with the seized property were handed over to SHO, SR Nagar Police Station. (NSS)

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