MP: Demonetised notes worth ₹47 lakh seized in Gwalior

One person has been arrested in connection with the case.

Demonetised ₹500 and ₹1000 notes with a face value of ₹47 lakh were seized on Monday in Gwalior in Madhya Pradesh, leading to one person being nabbed, a police official said.

The man was unable to give a satisfactory explanation about the demonetised notes. (Representative image/HT Photo)

Acting on a tip off, a man on a motorcycle was stopped on Morena road in the morning, Superintendent of Police Rajesh Singh Chandel said.

"He tried to flee but we managed to catch him. A search of his bag revealed demonetised ₹500 and ₹1000 notes with a face value of ₹47 lakh," he said.

The man was unable to give a satisfactory explanation about the demonetised notes and the Income Tax department has been intimated as part of the probe, the SP said.