Wed Sep 10 06:48:23 UTC 2025: Okay, here’s a news article based on the provided text:

**Headline: Hyderabad Police Bust Illegal Currency Exchange Ring, Seize ₹1.92 Crore in Demonetized Notes**

**Hyderabad, September 10, 2025:** Hyderabad police have arrested four individuals in Narayanaguda for attempting to illegally exchange ₹1.92 crore in demonetized Indian currency notes. The suspects were apprehended on Tuesday, September 9, 2025, while allegedly trying to swap the old ₹500 and ₹1000 notes for valid currency, demanding a 30% commission on the exchange.

The arrested have been identified as Mulla Abbas Ali (46) from Bengaluru, Mannelli Raj Kumar (46), a Hyderabad-based real estate consultant, Tangella Krishna Mohan (43), a shop owner from Karimnagar, and Yada Jaya Kavitha Gupta (47), a financial facilitator from Musheerabad.

According to police investigations, the primary suspect, Mulla Abbas Ali, had a prior arrest in Bengaluru in 2021 for similar offenses under the Specified Bank Notes (Cessation of Liabilities) Act. Despite this, Ali allegedly continued to procure demonetized currency from a Kerala-based individual named Aziz, who remains at large. Police believe Ali and associates transported the old notes to Hyderabad in August 2025.

The suspects then contacted Raj Kumar and Kavitha Gupta to facilitate the exchange, offering ₹1 crore in valid currency for every ₹30 lakh in demonetized notes. The operation was designed to exchange ₹1.92 crore.

“The accused were caught red-handed during the exchange attempt,” stated a police spokesperson. “Efforts are currently underway to locate the absconding associates and further investigate the full extent of the network involved in this illegal racket.”

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