The scrapped bills in denominations of Rs 500 and Rs 1000, totalling Rs 28,10,000, were recovered from Sharukh Merchant (24), Mangesh Gotal (34), and Deepak Khade (54), who works as a security guard with a builder, this afternoon at Vijay Park in Mira Road, said senior Police Inspector Venkat Andale.
Police are conducting investigation whether the money was brought for exchanging it with new currencies.
The Income Tax department has been informed about the seizure.
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