Two held with ₹1.99 lakh in demonetised notes in Gujarat

The Crime Branch seized demonetised notes with a face vale of ₹1.99 lakh from the men.

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

Police said the two persons were arrested by the Crime Branch following a tip-off. (AP File Photo)

Jagdish Raioyani and Budha Dhrangiya were arrested Friday night from Yagnik Road here by the Crime Branch following a tip-off and demonetised notes with a face vale of ₹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 demonetised notes with valid ones was underway.