Meerut, May 21 -- The arrest of a police constable and two others, who were found to be in possession of Rs 1.5 crore in demonetised notes in Moradabad's Dilari, has created a flutter since police claimed that some bank officials were also involved in the racket. While the district police said they had exposed the well-organised racket that involved illegal exchange of scrapped notes, they noted that how these notes found their way into the banking system needed a thorough investigation. The seized currency included 14,636 Rs.500 notes and 7,681 Rs.1,000 notes, which have been out of circulation since the government's demonetisation move on November 8, 2016. As per the existing norms, banks are not allowed to accept phased-out currency notes. Meanwhile, police slapped sections 318(4)/62/61(2)(a) of the Bharatiya Nyaya Sanhita (BNS) and Sections 5/7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 against the accused. The BNS sections deal with cheating, attempts to commit offences, and criminal conspiracy. The three men were caught from near Dilari's Haunspura bridge around 3 am on Monday during a routine police vehicle check. Two large sacks filled with scrapped Rs.500 and Rs.1000 currency notes. The total recovery amounted to Rs.1,49,99,000. Three others who were also in the car managed to escape. The development was corroborated by Moradabad superintendent of police (SP)-Crime Subhash Chandra Gangwar. Vicky Gautam, the constable who was arrested, hails from Jalilpur Bakkal in Amroha and is currently posted in Sitapur but has reportedly been absent from duty since December last year. "The Sitapur police have been asked to provide a detailed report [on Gautam], and based on the findings, his suspension will be recommended," Moradabad SSP Satpal Antil said. The other two men who were arrested are Mohammad Yasin Ali from Ahmadnagar in Rampur and Mohammad Riaz Ahmad also from Rampur. The men who got away were identified as one Faisal from Saidangali in Sambhal, Sattar from Guhawar in Bijnor's Noorpur area and Yusuf also from Noorpur. All six have been booked under the mentioned sections. SP Gangwar, who is overseeing the investigation, said Faisal allegedly collected old notes and delivered them to Riaz and Yasin in Rampur. From there, the currency notes would be passed on to Sattar, who lived at a poultry farm located between Guhawar and Noorpur. Sattar and Yusuf acted as brokers, providing 10 per cent of the value in new currency in exchange for the demonetised notes. In this case, they were to provide Rs.15 lakh for the Rs.1.5 crore in old currency notes. The accused were allegedly en route to Noorpur for the exchange when they were intercepted. The accused reportedly told interrogators that they had connections with banking officials, who allegedly provided them with fresh currency notes in exchange for old notes in return for commissions....