Three persons were detained with scrapped currency notes having a combined face value of Rs.58.86 lakh in Sabarkantha district of Gujarat, police said on Friday.
The trio was detained with the demonetised bills on late Thursday at Vinayak Hotel in Vadali town in the district, said Police Sub Inspector of Vadali Police, V R Chaudhari.
The three have been identified as Mushtakim Abuwala, Mohammad Sufian Shaikh– both residents of Dariyapur in Ahmedabad–and one Yakub Ghanchi, a resident of Dholka town of Ahmedabad district.
"These three persons were nabbed as soon as they arrived at Vinayak Hotel with scrapped currency notes having a face value of Rs 58.86 lakh. They wanted to exchange it with new notes. Though they appear to be commission agents, they claimed that the cash belonged to them," said Chaudhari.
The seized currency include 2,794 notes of Rs.1,000 and 6,185 notes of Rs.500 each.
After placing the trio under detention, police seized the old notes and began their procedure to inform the Income Tax department to conduct an investigation into the matter, Chaudhari added.