Five persons have been arrested and about Rs 37 lakh in 2,000 rupee notes seized from their car, police said today.
The seizure was made during a vehicle check at Gobichettipalayam-Modachur main road last night.
The notes worth Rs 36.9 lakh, were found in a cloth bag in the car and all the five persons in the vehicle were arrested, police said.
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The arrested, identified as Sakthivel, Manoj, Suresh Senthilkumar and Sabari, told the police that they were carrying the money to exchange with demonetised notes to some "affluent" persons for a good margin in Gobichettipalayam.
All five persons, their car and the seized currency were handed over to Income Tax Department officials today for questioning, police said.
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