The Saravanampatti police arrested two persons from Kerala for being in possession of demonetised currency with a face value of ₹1.3 crore in the early hours of Sunday.
The duo was arrested under the provisions of the Specified Bank Notes (Cessation of Liabilities) Act, 2017, which was notified by the government in March. This is the first case to have been registered by the city police under the provisions of this new Act.
Sibhu T.G. (38) of Elambakappilly and Joseph Jose (42) of Elamakkara in Ernakulam were found in possession of the scrapped currency during a routine vehicle check at the Saravanampatti check post on Sathy Road around 12.30 a.m.
As many as 114 bundles of notes of ₹1,000 denomination and 32 bundles of ₹500 denomination were found inside two bags that were kept in the boot of their vehicle.
The police decided to check the vehicle after the duo gave contradicting replies to their queries, leading to the huge cash haul.
