Four men held with demonetised notes worth around Rs 50 lakh

Gurugram: Despite over a year and a half having elapsed since the decision to ban high currency value notes was announced by the Central government, sporadic incidents of demonetised notes being circulation continue to be reported.

In the latest incident, Gurugram police seized a huge cache of old currency notes, worth Rs 49,90,000, from Himgiri Chowk in Sector 10.

Police said on Sunday that four people, namely Sanjay, Bithal, Lucky and Satyanaran, were arrested in this regard.

All four arrested men are residents are Delhi.

Upon interrogation, the accused revealed that they were commission agents and were given the large sum by Rajesh Kumar Miglani, a resident of Noida, to be changed into new notes.

"On the basis of confidential information, we learned aware that people with a large cache of demonetised notes will come to Gurugram. Subsequently, we formed a team and caught the culprits red-handed. We are now trying to find more about the people involved in this racket," said Inspector Ravinder Kumar.