The South Hyderabad Police arrested four people with demonetised currency worth Rs 2.53 crores, while conducting vehicle checking at Bahadurpura X Road here.
The police on Saturday also took the Maruti van in their possession, in which the accused – Amit Bagadi, Murarialal, Kataram Raju and Vishnu Bati, were travelling.
Hyderabad South Zone DCP V Satyanarayana said that the all the accused were travelling from Bengaluru to Hyderabad.
All the accused were arrested under Section 5 and 7 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017, said DCP Satyanarayana.
“Now we are consulting with the Reserve Bank of India (RBI) and Income tax officials for further actions,” he added.