Tamil Nadu police arrested five persons in connection with seizure of Rs 37 lakh in 2,000 rupee notes from their car on Friday night.
The seizure was made during regular vehicle check at Gobichettipalayam-Modachur main road. Notes worth Rs 36.9 lakh, were found in a cloth bag in car and all the five persons in the vehicle were arrested, police said.
Arrested persons have been identified as Sakthivel, Manoj, Suresh Senthilkumar and Sabari, told police that they were carrying the money to exchange with demonetised notes to some "affluent" persons for a good margin in Gobichettipalayam.
All the five persons, including their car and seized currency have been handed over to Income Tax Department officials for questioning.