Rs one crore in demonetised Rs 500 currency notes was seized and two persons were detained in this connection, police said today.
A vehicle was intercepted near Yendada junction here last night and Rs one crore was seized from the vehicle, ACP (Madhurawada) B Nageswara Rao said.
The vehicle was coming from Keonjhar in Odisha and going to Polavaram in East Godavari district. The two, who were detained have claimed that they are working for a private firm and taking the cash to pay wages of the workers and employees and disburse medical bills, he said.
The two produced relevant documents and authorisation letters, but the Income Tax authorities who reached the spot wanted to further investigate, said the official, adding the cash has been handed over to the IT department.
Prime Minister Narendra Modi had announced on November 8 his government's decision to demonetise Rs 500 and Rs 1,000 currency notes.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)