Rs 4.4 lakh in new notes seized in Andhra Pradesh

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Unaccounted cash worth Rs 4.4 lakh in new currency notes of Rs 2,000 was seized on Saturday from Krishna district of Andhra Pradesh, the police said.

The seizure was made in the early hours at Gosaveedu village of Gampalagudem Mandal from four people after they were unable to produce appropriate documents and explain the source of cash, said Gampalagudem sub-inspector P Siva Rama Krishna.

The police suspect that the cash, stashed in a bag, was supposed to be handed over to some people who wanted it in exchange for old Rs 500 and Rs 1,000 notes.

The four accused, allegedly involved in exchange of money on a commission basis, were taken into custody and a case was registered against them.

The case will be reported to the income tax department for further investigation, the police added.