Preliminary enquiries revealed that the money was part of a real estate transaction. However, those in the car did not have proper documents to support their claim, they said.
Police said the checks were intensified on specific information that unaccounted cash was being brought into the city and moved out.
The car was stopped at Kaundapalayam and a search revealed the money hidden inside. The vehicle was immediately taken to the police station at Sai Baba Colony, they said.
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