Acting on a tip off, officials of Sarthana police station intercepted the car on the outskirts of the city this morning and found junked currency notes, with cumulative face value of Rs 5,81,70,500, in five plastic bags, a release issued by the Surat Police said.
There were 73,319 notes of Rs 500 denomination and 21,511 notes of Rs 1,000 denomination.
As the five occupants of the car could not give any satisfactory answer about the sources of the currency, the police seized the notes and detained all of them, it said.
The Narendra Modi government in November last year had announced scrapping of Rs 500 and Rs 1,000 denomination notes.