Suryapet: The Kodad police on Friday arrested a resident of Vanasthalipuram and seized Rs 9.95 lakh in demonetised currency from him.
The accused was identified as P Samuel (27). Kodad Deputy Superintendent of Police A Raghu said the police caught him during a vehicle checking drive at My Home Lorry office on the outskirts of Kodad and found 995 currency notes in the denominations of the banned Rs 1,000 notes.
Samuel confessed that his childhood friend, Kapil, a native of Khammam, gave him the currency and offered Rs 50,000 to get them exchanged into new notes. He also told the police that he was taking the old currency for exchange with the help of a person at Gudubanda. The police booked Kapil and the other person at Gudubanda.