The sleuths of the Commissioner’s Task Force, East Zone Team, Hyderabad, along with Narayanaguda Police, arrested four persons who were found in illegal possession of demonetized Indian currency notes of Rs 1000 and Rs 500 denominations.

The accused were attempting to exchange the same for valid Indian currency at 30% commission near Shanthi Theatre in Narayanaguda.

Accused identified as Mulla Abbas Ali (46), resident of Bengaluru, Mannelli Raj Kumar (46), resident of Banjara Hills, Tangella Krishna Mohan (43), resident of Karimnagar and Yada Jaya Kavitha Gupta (47), resident of Musheerabad.

The prime accused, Mulla Abbas Ali ekes out a livelihood by working as an electrician. During the course of his work, he came to know through various sources that even after demonetization of Indian currency notes of Rs 1000 and 500 as legal tender, the same were still being exchanged for valid Indian currency on a commission basis, which is illegal.

In 2021, he, along with his associates, accumulated demonetized currency notes and attempted to exchange them in Bengaluru by luring innocent people. At that time, they were apprehended by Parappana Agrahara Police and arrested.