RAJAMAHENDRAVARAM : The police on Wednesday arrested two persons and seized from their possession `1.95 crore in demonetised notes and two cars. The arrested are Vanga Durga Sridhar and Kodavati Eeswara Rao of Tadepalligudem in West Godavari district.Police are on the lookout for six more people involved in the racket of exchanging demonetised notes for new currency.
Speaking to mediapersons here, SP (Urban) B Rajakumari said the police arrested the two persons on a tip off even as they stood talking at a portico adjacent to Shirdi Sai Mart on JN Road. On seeing the police, they tried to run away, but the police gave a hot chase and caught them.
According to the SP, three persons from Tadepalligudem came to the city to get rid of demonetised notes and agreed to sell them to the arrested for “75 per cent discount”. East Zone DSP K Ramesh Babu and DSP Ramakrishna said the rest of the racket members had fled and that the cops were looking for them.