LIVE BHARATH : Hyderabad: The CBI recovered Rs 70 lakh in new currency near Hyderabad during raids on relatives of a postal official who was earlier arrested for allegedly being involved in fake exchange of new currency notes.
Interestingly the cash are all in new notes of Rs 2,000, was seized on December 9 during raids in Ibrahimpatnam in Ranga Reddy district.
This had come after the a special court in Hyderabad sen senior superintendent of a post office K. Sudheer Babu, in Hyderabad to judicial custody till December 23.
Narasimha Reddy and Nitin who acted as middlemen, were also arrested and sent to judicial remand.
The CBI registered three cases and arrested four accused, including Sudheer Babu.
Sudheer Babu had taken the new currency notes from the money sent to the postal department for exchange of demonetised notes of Rs 500 and 1,000.