Three persons were arrested today on the charge of possessing counterfeit currency notes and planning to circulate them in the city, police said.
On a tip-off, twenty fake notes in the denomination of 500 were seized from the three persons, including 60-year old S Khader Mohammed, an alleged serial offender, they said.
Preliminary inquiry revealed that the notes were brought by the trio from Kerala and they were planning to circulate them in the city.
Mohammed was a serial offender and had been booked in more than ten cases for allegedly circulating counterfeit currencies in the city and neighbouring districts, police said.
