Hyderabad: 2 held with scrapped notes

Hyderabad: The police arrested two from Karkhana for trying to exchange demonetised currency on Friday. The arrested men, Ram Narayan Tiwari, 26, and Chandana Srinivas, 38, were caught with Rs 92,30,000.

Ram Tiwari, hailing from Rajasthan, was running a firm dealing in aluminium scrap. Chandana Srinivas got word that Ram had demonetised currency and was offering a 40 per cent commission for exchanging it. Srinivas offered to get it done. On Friday, Ram brought the old notes on a bike and reached the Karkhana branch of ICICI Bank along with Srinivas. They were arrested by Karkhana police and the cash and bike were seized. The suspects will be produced in court for hearings on judicial custody.