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The Collem police have seized demonetised banknotes worth around Rs 30 lakh at the Mollem check-post and arrested two Hubballi residents for illegally possessing the scrapped notes.
Sources at the Collem police said the accused were traveling on Friday night to Goa via the Mollem check-post on a Goa-registered two-wheeler.
As they reached the check-post, the PSI on duty felt the bag they were carrying was suspicious, and hence he stopped them for checking.
Upon inspection, the police found in the bag 60 bundles of the demonetised currency notes in the denomination of Rs 500. The seized banknotes were worth Rs 29, 99,500.
Both the accused were arrested and have been taken into police custody, the sources said.
The accused had brought the scrapped notes from Hubballi and taking them to Goa. But the exact reason for carrying the notes is not clear yet.
The Collem police have informed the income-tax department about the cash seizure.
The bike and the bag have also been seized. Confirming the seizure of the scrapped banknotes, Collem PI Nilesh Daigodkar said, “The case is still under investigation, and the police have alerted the income-tax department about the seizure. Details can be provided only after I-T department’s investigation.…”