Metro India News | Hyderabad

Gudimalkapur police arrested three persons and seized a large quantity of counterfeit Indian currency following a tip-off about illegal currency exchange at Avalon Apartments in Nanal Nagar on January 17.

Acting on specific information received around 5 pm, a police team led by the Gudimalkapur Sub-Inspector rushed to the spot along with staff and mediators. The police found three men quarrelling over counterfeit notes and apprehended them on the spot. They were later shifted to the Gudimalkapur Police Station for questioning.

During interrogation, the accused confessed that two of them had travelled from Rajasthan to Hyderabad to deliver fake Rs 500 notes, while the third accused was receiving the consignment. Based on their statements, police registered a case under Sections 178, 179, 180, 318(4) read with 3(5) of the Bharatiya Nyaya Sanhita.

Police seized eight and a half packets containing 10 bundles of counterfeit Rs 500 notes, four mobile phones, and a Dio motorcycle bearing registration number TG 07 N 4481.

The accused were arrested under the supervision of senior officers and remanded to judicial custody. Police said further investigation is underway to trace the source and wider network involved in the counterfeit currency racket.