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Kolkata Businessman Arrested For Converting INR 25 Crores In Old Currency

Kolkata Businessman Arrested For Converting INR 25 Crores In Old Currency

Thursday, December 22, 2016, 4:18 PM

The Enforcement Directorate arrested businessman Parasmal Lodha, for converting over INR 25 crores in demonetized currency, into new currency notes. Reports said Lodha has links with industrialist J Shekhar Reddy, who was arrested along with his associate, K Srinivasulu. Reddy and Srinvasulu were arrested for illegally exchanging demonetized rupee notes for new ones and going against RBI guidelines.
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