Old notes of Rs 1.2 crore face value seized, 6 arrested in Hyderabad

Six persons were arrested from a Tollywood director’s office in Banjara Hills area of Hyderabad on Monday with demonetised notes having face value of Rs 1.2 crore, police said.
Police suspect the small-time director, K Ramakrishna alias Kittu, is part of a racket which is allegedly involved in exchanging scrapped banknotes of Rs 1000 and Rs 500 with new ones for a hefty commission.
Acting on a tip-off, a police team raided Kittu’s office on Sunday night and seized the notes. A case was registered on charges of cheating and under relevant sections of the IPC.