"We are conducting probe into media reports about the news items", a senior police officer said.
He said the media house was also asked about the report and the news report is being verified.
"We have no knowledge about any such incident", the senior police officer said.
"Police is investigation media report", DySP Jammu Sugandha Mahajan said on a whatsapp group here tonight.
Reports in a section of media alleged that demonetised cash running into crores reportedly belonging to a minister was intercepted in a vehicle in the city.
Addressing a press conference today, senior vice president JKPCC Sham Lal Sharma along with Chief Spokesperson Ravinder Sharma said "we want probe and sacking of those responsible for it by Chief Minister".