The police seized ₹44.5 lakh in banned currency notes from a car at Kottakkunnu near Sulthan Bathery on Sunday.
Three persons were arrested in this connection. The police identified the accused as M. Razak, 41, of Madathil house, at Kallottukunnu near Mananthavadi; P. N. Muhammad, 31, of Poolakkamannil house and M. K. Jamsheer, 31, of Achan Kandiyil at Padanilam near Kunnamangalam in Kozhikode district.
A car used for transporting the invalid currency also seized.
A police team led by Sulthan Bathery sub-inspector N. Ajeesh Kumar arrested the accused and seized the invalid currency during a routine vehicle check.
The trio said during the interrogation that they were carrying the cash, provided by a team from Kasaragod, after one Harris at Sulthan Bathery agreed to provide ₹10 lakh in new currency for the banned notes, the police said.
They were charged under various sections of the Code of Criminal Procedure and Specified Bank Notes (Cessation of Liabilities) Act, 2017. The trio would be produced before the First Class Judicial Magistrate Court at Sulthan Bathery on Monday, the police added.
