A day after Kerala Police seized unaccounted cash to the tune of Rs 37 lakh in new currency notes from a businessman in Malappuram district, the department made yet another seizure on Sunday.
The officials seized cash amounting to Rs 51.86 lakh, of which a major part was in new currency notes, from two individuals in Kannur district, while the two men were illegally transporting the cash from Bengaluru.
According to reports, Rs 51.80 lakh was in new denomination notes and the remaining Rs 6000 were in Rs 100 notes.
Acting on a tip-off, the special squad of the excise department interspersed a Kerala State Road Transport Corporation (KSRTC) bus coming from Bengaluru. When Ranjith Salangi and Rahul Ghatoo, both in their 20s, were questioned about the cash they possessed, the officials took them into custody after they failed to produce necessary documents.
Reports say that the duo are both natives of Maharashtra and that they will be handed over to Income Tax (IT) and ED officials for further questioning.
Ever since the announcement of demonetisation, crack down on unaccounted cash has been carried out extensively across the country.
Last week, the Karnataka police arrested 3 persons from Hubli, who were found to have been in possession of Rs 29,98,000 in new currency. According to the police, the cash was meant to be exchanged with black money, with an unidentified fourth person, who did not turn up at the time. However, the police arrested the three persons after they failed to produce documents pertaining to the money in their possession.