2 held with demonetised notes with face value of Rs 17.75 lakh

Police have seized demonetised banknotes of Rs 1,000 and Rs 500 denominations with the face value of Rs 17.75 lakh from different places in the city and arrested two persons.
The total seized notes include 423 pieces of Rs 1000 and 2704 pieces of Rs 500.
While one Jayprakash Patel was caught with 223 notes of Rs 1000 and 1684 notes of Rs 500 from a builder's office in Punitnagar area last night, Ali Mohammad Sheikh was caught from Nehrunagar in possession with 200 pieces of Rs 1000 and 520 pieces of Rs 500," police said in a press note today.

"The total face value of the notes is Rs 17.75 lakh. Collectively, 423 notes of Rs 1000 denomination and 2704 notes of Rs 500 denomination were seized," it said.
The high value notes were demonetised on November 8. They ceased to be the legal tender now.