Two person arrested with demonetized notes of 1.99 lakh

Two persons were arrested with demonetized notes with a face value of Rs 1.99 lakh, police said Saturday.

Jagdish Raioyani and Budha Dhrangiya were arrested Friday night from Yagnik Road here by the Crime Branch following a tip-off and demonetized notes with a face value of Rs 1.99 lakh were seized, said inspector H M Gadhavi.

"Raioyani, a native of Morbi, and Dhrangiya, who hails from Jamnagar, have told us that the scrapped currency was given to them by one Amrut, also a resident of Morbi. Efforts are on to apprehend him," Gadhavi said. He said that further probe into any possible racket of people exchanging demonetized notes with valid ones was underway.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)