Rs 27 lakh in Rs 10 coins, notes from Kerala seized

In a ‘heavy’ haul, sackloads of currency comprising Rs 10 notes and coins were seized from a vehicle at KK Nagar in the city on Friday morning. The estimated amount of Rs 27 lakh that was seized during a vehicle check was reportedly making its way from Kerala to be distributed as change.

A team headed by KK Nagar inspector during the check intercepted the SUV and upon checking it, found the occupants, identified as Ayyappan of Tiruvallur and driver Krishnamurthy, to be carrying the cash without any supporting documents. The police subsequently seized the money from the duo.

During the inquiry, Ayyappan told the police that he was bringing the money from Kerala to distribute the same among his clients here in the city. He added that he collected the coins and notes from a bank in Ernakulam in Kerala after paying it an amount equivalent to its value. He also said that he had officially collected the change from the bank to bring the same to Chennai.

Further, Ayyappan said all the currency were to be handed over for a commission to cash counters in hotels, Tasmac bars and other traders who require a lot of change on a daily basis. The police said that they had handed over the entire currency sacks to the Income Tax department for further action.