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If the sources are to be believed, Janardhan Reddy had illegally exchanged demonetized currency notes. Three persons have already been taken into police custody in this regard. They have been identified as Fareed, owner of Ambident company, Brijesh, a builder and Ramesh Kothary, a jeweller.
It is gathered that Janardhan Reddy has gone absconding after receiving the news that CCB police are in search of him.
The police have launched a manhunt in Delhi, Hyderabad and other major cities as well to arrest Reddy and Ali.