Demonetised currencies of Rs 1.26 cr face value seized

Demonetised notes with the face value of Rs 1.26 crore have been seized from a car in Maharashtra's Pune district, police said Wednesday.

The scrapped bank notes, in denominations of Rs 500 and Rs 1000, were found stuffed in a bag placed under the driver's seat in the car on June 8 in Kavthe Yamai village, a Shirur police official said, adding that three men were also found sitting in the vehicle during patrolling.

As the trio failed to give a satisfactory reply on the source and destination of the banned currency, police have registered a case against them under the Specified Bank Notes (Cessation of Liabilities) Act, 2017.

They are identified as Ganesh Kolekar, Samadhan Nare and Amol Dasgude, the official said, adding that further investigation is on.

The Rs 500 and Rs 1000 currencies became redundant after their demonetisation was announced by Prime Minister Narendra Modi on November 8, 2016.