Monday, Mar 17 2025 | Time 13:51 Hrs(IST)
States » SouthPosted at: Mar 16 2025 8:54PM


Hyderabad Police bust gang involved in illegal exchange of demonetized currency

Hyderabad, Mar 16 (UNI) Hyderabad police apprehended four individuals involved in an illegal attempt to exchange demonetized Indian currency notes worth Rs 55,52,500.
On credible information, the Central Zone Task Force Inspector, Sub-Inspector, and their team arrested Syed Muzammil Hussain (48) and Amzad Khan (42) of Langer House, Palthi Bhaskar (46) of Kandlakoya, Medchal, and Shaik Naseema (50) when they were attempting to exchange demonetized Indian currency at Taj Mahal Hotel under the Abids Police Station limits, a police statement said on Sunday.
The prime accused, Syed Muzammil Hussain, had concealed Rs 30 lakh of demonetized currency to evade income tax during his stay abroad. Upon returning from Saudi Arabia in 2019, he attempted to exchange the old currency but was unsuccessful. Later, with the help of Amzad Khan, he collected an additional Rs 25.52 lakh in demonetized notes. They enlisted the assistance of agents Palthi Bhaskar and Shaik Naseema, who agreed to help exchange the currency for a 5 percent commission.
On March 15, 2025, the accused gathered at Taj Mahal Hotel in Abids, Hyderabad, carrying Rs 55,52,500 in demonetized Indian currency. They planned to exchange the currency for valid Indian notes at a 10 percent commission when the Task Force team, acting on credible information, intervened and apprehended them.
The arrested individuals and the seized currency were handed over to SHO Abids Police Station for further investigation.
UNI VV BD
Tags: #Hyderabad Police bust gang involved in illegal exchange of demonetized currency
More News
Telangana Assembly's budget session enters fourth day

Telangana Assembly's budget session enters fourth day

17 Mar 2025 | 10:36 AM

Hyderabad, Mar 17 (UNI) The Telangana Legislative Assembly convened at 1000 hours on Monday for the fourth day of its budget session.

see more..
Yatnal to reveal names involved in gold smuggling case in Assembly on Monday

Yatnal to reveal names involved in gold smuggling case in Assembly on Monday

17 Mar 2025 | 9:50 AM

Bengaluru, Mar 17 (UNI) Senior BJP leader Basanagouda Patil Yatnal is set to disclose the names of two ministers in the Legislative Assembly on Monday in the gold smuggling case linked to actress Ranya Rao, who was recently arrested.

see more..

Potti Sriramulu source of formation of Linguistic states: AIR ex-Director

17 Mar 2025 | 1:14 AM

Tirupati, Mar 16 (UNI) Venugopal, former Director of All India Radio, on Sunday said that Potti Sriramulu was the base for the formation of inguistic states.

see more..

Grand Sri Ram Navami Brahmotsavam celebrations at Bhadrachalam announced

17 Mar 2025 | 1:07 AM

Hyderabad, Mar 16 (UNI) The Sri Sita Ramachandra Swamy temple in Bhadrachalam is set to host the auspicious Sri Ram Navami Prayukta Brahmotsavam celebrations.

see more..
TN: Juvenile among three arrested for smuggling Ganja in train

TN: Juvenile among three arrested for smuggling Ganja in train

16 Mar 2025 | 11:56 PM

Madurai (Tamil Nadu), Mar 16 (UNI) Three persons, including a 17-year-old boy, were arrested in a train at Madurai railway junction on Sundayfor smuggling eight kg Ganja from West Bengal.

see more..