KARWAR: Police seized Rs 37 lakh in new Rs 2,000 denomination notes and arrested the person carrying the notes on his four-wheeler without documents in Honnavar city.
The money was seized on Wednesday afternoon from Abdul Latif of Konandur village in Shivamogga district. Acting on tipoff, police seized amount on Gerusoppa road in Honnavar along with the car in which the money was being transported.
According to Honnavar police, the accused had Rs 32 lakhs of Rs 2,000 denomination notes and Rs 5 lakh in Rs 100 notes. He was transporting it from Sagar of Shivamogga district to Honnavar of Uttara Kannada district.
It is suspected that the plan was to exchange the new notes for old ones on a commission basis at Honnavar. The seized amount has been handed over to Income Tax officials. Further inquiry is on, said police.