Aurangabad, Sep 26 (PTI) Scrapped currency notes with Rs 99.65 lakh face value were recovered here on Thursday and three men were arrested in this connection, police said.

The arrested accused were identified as Isak Shabir Shah (40), Mohammed Naeem (45) and Mohammed Ilyas (38), they said.

"Isak, a resident of Gangapur in Aurangabad district, had arrived in the city with the scrapped currency notes. He wanted to exchange those notes with Naeem and Ilyas, who are local residents," he added.

Isak told the police that as per the deal, he was to get Rs 20,000 for exchanging the scrapped notes.

A case was registered against the trio, inspector D R Tare said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)