The police seized Rs 8.8 million from a car and arrested two persons on Tuesday.
The Skoda car was intercepted at Chipplithodu, on the Bangalore-Kozhikode national highway, about 50 km from Kozhikode, following a tip off.
The unaccounted money is suspected to be part of hawala deals, which are rampant in Kozhikode. "The currency was found concealed under the car's stereo system," said PC Sajeevan, circle inspector of Thamarassery police station, who led the search operation.
Two persons in the car, Siddique and Faisal, were taken into custody. "The Skoda car belonged to a person near Thamarassery and we are questioning the arrested persons," the police official said.
The police on Sunday had seized Rs 1.2 million from two persons in Vatakara, 40 km from Kozhikode.