The Pune Police seized Rs one crore in demonetised currency from two persons at FC Road here today, an officer said.
All the notes are in the denominations of Rs 1,000 and Rs 500.
"We had received a tip-off that two persons would be coming at FC Road this evening. We laid a trap and nabbed them," said a sub-inspector of Deccan-Gymkhana police station.
He said the scrapped notes were found in possession of Shailesh Chavan and Gita Shah.
"We have informed the Income Tax department about the seizure," he added.
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