Hyderabad police today arrested ten persons including a woman for conspiring to exchange demonetised currency with face value of over Rs three crore.
Two others, identified as Sekhar Babu, the prime accused, and Srinu, a bank employee, were absconding, police said.
The accused had gathered in Basheerbagh area last night, bringing with them demonetised notes of Rs 500 and Rs 1000, with total face value of Rs 3,01,46,000.
They had planned to exchange the notes with valid currency when the police nabbed them, said Deputy Commissioner of Police D Joel Davis.
Before last night's seizure and arrests, city police had arrested 31 people in different cases and seized demonetised notes with face value of Rs 4.75 crore from them this month.
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