Fourteen persons, including son-in-law of former Karnataka Legislative Council Chairman Veeranna Mattikatti, were arrested on Saturday night with demonetised notes of the face value of Rs 9.10 crore, the city police said on Sunday.
"On a tip-off, we searched a house at Benson Town in Bengaluru central suburb and took 14 persons into custody for trying to exchange old currency notes with the face value of Rs 9.10 crore," H. M. Mahadevappa, Assistant Commissioner of Police of the Bengaluru City Crime Branch, said.
The police have also seized 15 mobile phones, two two-wheelers and two four-wheelers from the arrested persons.
"We presented 13 of the 14 arrested persons before a court. The judge remanded them in judicial custody for 14 days. We have taken Edwin Rosario, one of the arrested persons, into police custody for further interrogation," Mahadevappa said.
The 14 persons were arrested under Section 420 of Indian Penal Code and 41B of Criminal Procedure Code (CrPC) and Section 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017.
On March 23, two men were arrested with demonetised notes of the face value of Rs 1.28 crore.
On March 28, four men were arrested with banned Rs 500 and Rs 1,000 currency notes with the face value of Rs 4.98 crore.
The BJP-led central government demonetised Rs 500 and Rs 1,000 currency notes on November 8 last year.