HUBBALLI: Two persons were arrested by the Keshwapur police in Hubballi on charges of transporting Rs 60 lakh illegally.
The arrested have been identified as Srinivas Narasimhamurthy and Praveen Jain, both businessmen and residents of Hosapete.
Based on credible information, the police arrested the duo on Gadag Road early in the morning. The seized cash was in the higher denomination notes that were banned by the Central government last week.
According to the police, the duo had come to Hubballi to exchange notes but their attempt was unsuccessful. While returning to Hosapete in their SUV, they were stopped by the police on Gadag Road. A case has been registered.