The Merapani police on Saturday night arrested a man in possession of demonetised currency worth Rs. 10 lakh in a vehicle.
The arrested has been identified as Biman Gogoi alias Pinku. “He was carrying cash to the tune of Rs. 10 lakh in old currency of Rs. 500,” said a police official.
The old currency notes in denomination of Rs. 500 and Rs. 1000 were discontinued following demonetisation announced by the Central government on November 8, 2016. While new note for Rs. 500 was introduced, the 1,000 note was discontinued.
Police suspected that the cash consignment was sent for exchange; however they were yet to find out the purpose of intended exchange and who was to receive the demonetised cash.
Meanwhile, two more were detained in connection with the seizure.