Hyderabad Police Arrest 4 in Rs. 1.92 Crore Illegal Exchange of Old ₹500 & ₹1000 Notes
In a significant crackdown, the Commissioner’s Task Force, East Zone, in coordination with Narayanaguda Police, apprehended four individuals
Hyderabad: In a significant crackdown, the Commissioner’s Task Force, East Zone, in coordination with Narayanaguda Police, apprehended four individuals on 09-09-2025 for illegal possession and attempted exchange of demonetized Indian currency notes of ₹500 and ₹1000 denominations. The operation took place near Shanthi Theatre, Narayanaguda.
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Details of the Accused
The accused include:
- Mulla Abbas Ali @ M A Ali, 46, electrician from Bengaluru, Karnataka
- Mannelli Raj Kumar, 46, real estate consultant from Banjara Hills, Hyderabad
- Tangella Krishna Mohan, 43, Kirana shop owner from Jammikunta, Karimnagar
- Yada Jaya Kavitha Gupta, 47, financial facilitator from Musheerabad, Hyderabad
Mulla Abbas Ali has a prior case registered under Cr. No 246/2021 for similar offenses in Bengaluru.
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Modus Operandi
The prime accused, Abbas Ali, had previously accumulated demonetized currency in Bengaluru and attempted illegal exchanges. Despite earlier arrests, he resumed the activity after procuring ₹1.92 crore in demonetized notes from an associate in Kerala.
In August 2025, Ali and his associates arrived in Hyderabad and contacted Mannelli Raj Kumar and Yada Jaya Kavitha Gupta, who agreed to facilitate the exchange for a 30% commission.
Arrest and Seizure
On 09-09-2025, when all four were found in illegal possession of the demonetized currency near Shanthi Theatre, police apprehended them and seized:
- ₹1,92,50,000/- in demonetized currency
- 4 mobile phones
- 1 counting machine
The arrest was carried out under the supervision of Inspector A. Nagarjuna, with Sub-Inspector S. Karunakar Reddy and the East Zone Taskforce team.
Authorities Statement
Additional Deputy Commissioner of Police, Andhe Srinivasa Rao, confirmed that the operation was part of ongoing efforts to crack down on illegal currency exchange and prevent financial fraud in the city.
