Hyderabad/Vijayawada, Dec 12: Telangana and Andhra Pradesh police on Sunday seized more than Rs 32 lakh and that is in new currency notes of Rs 2,000 in two separate incidents and arrested 14 people.
In the first case, police seized new notes of Rs 16 lakh from Ramayampet in Medak district of Telangana. The money was recovered from a car after police intercepted the vehicle during checking.
The driver and another person accompanying him told police that they were carrying the cash to Toopran near Hyderabad for giving it to a man for purchase of a piece of land.
Police handed over the cash to the income tax department for further investigation.
In another incident in Vijayawada, police busted a gang involved in exchanging demonetised currency notes and seized over Rs 18 lakh, in which most of it was in new currency notes of Rs 2,000.
The 12-member gang was exchanging the old notes of Rs 1,000 and Rs 500 with new currency for commission.
According to Police, an amount of Rs 18.48 lakh was seized from the arrested men. This includes Rs 16.88 lakh in new notes of Rs 2,000.