Seven held for exchanging banned notes

Bagalkot: The Bagalkot District Police on Sunday, January 27 arrested seven persons, including two women, for allegedly exchanging banned notes with the new currency for a commission. 

The arrested are identified as Shanthappa N and Ganapathi M of Taklki, Krishna P of Jamkhandi, Basavaraj H, Husensabha M, Mumtaj Patel and Sangeeta A of Belagavi. 

In the preliminary investigation, it was found that a resident of Belagavi was the kingpin, and he is currently absconding, therefore, the police launched a manhunt for him.

It is gathered that the police has conducted a raid at a house in the Mahalingapura town, and took seven members into the custody. The police have also recovered Rs 29.4 lakh demonetised notes from the gang.  Among the recovered amount, Rs 22.25 lakh was of Rs 1,000 denomination and remaining Rs 500 of denomination.

A case in this regard has been registered with the Mahalingapura police.