Atleast 14 persons were arrested with demonetised notes of the value of Rs. 9.1 crore earlier on 1 April, 2017 night in Bengaluru.
"We got credible information that some people exchange old currency with new one. We raided the house and arrested 14 people and seized around Rs.9.1 crore denomination notes. The investigation is underway that to whom this money exactly belonged to," ACP S. Ravi said.
At least two men were arrested earlier on 23 March, 2017 with Rs. 1.28 crore of old currencies and on 28 March, 2017, four men were arrested with Rs.4.98 crore of demonetised old currency in Bengaluru.
Prime Minister Narendra Modi demonetised Rs. 500 and Rs. 1,000 currency notes earlier on 8 November, 2016.