Demonetised currency notes with a face value of Rs 1.26 crore were recovered from three people in Maharashtra's Pune district on Wednesday, June 12.
The notes, in the denomination of Rs 500 and Rs 1,000, were seized from a car in Kavthe Yamai village. The scrapped currency was found stuffed in a bag under the driver's seat.
Police have registered a case against the trio, identified as Ganesh Kolekar, Samadhan Nare and Amol Dasgude, under the Specified Bank Notes (Cessation of Liabilities) Act, 2017.
One accused in the case is also absconding, the Pune rural police reportedly said.
Demonetised currency worth Rs 3 crore was also recovered from Pune last year. A Congress councillor, identified as Gajendra Abhang, was arrested by Pune police in connection with the case.
Scrapped currency worth Rs 1 crore was also seized from Ghaziabad in 2018, and 10 people were arrested for the possession. The arrested persons were apparently taking the consignment to Nepal to exchange it with the new currency.