Mumbai: In two separate cases, the Mumbai police seized demonetised currency notes to the tune of Rs 1.53 crore on Wednesday. Five people were arrested by the Tardeo and Antop Hill police stations and the police is trying to identify the owners of the seized currency notes. The accused are commission agents who were getting Rs 45,000 for each successful exchange of the debarred notes of Rs 500 and Rs 1,000, officials said.

The seizures were made based on a tip-off, however, the receivers are yet to be identified. “The income tax department has been informed about the seizures and the money will be handed over to them,” said R.D. Shinde, additional commissioner of police (central region).

The Tardeo police intercepted a car  near Haji Ali junction following a tip off. When the officials checked the leg space of rear seat, they found plastic bags stuffed with the demonetised currency notes to the tune of Rs 1.60 crore. The police arrested Saayar Mali (41) and Jaymin Vohra (34).“Vohra is an employee with a Khar-based jeweller and we suspect that the currency belongs to him,” said Sanjay Surve, senior inspector of Tardeo police station.

In the second case, an Antop Hill police teamseized currency worth Rs 93.80 lakh. The officials intercepted car and a two wheeler and when the scooter’s storage space was checked, notes were found kept in it. Those arrested accused were Rohit Pathak (23), Pravin Kamble, (55) and Alvin Borde, 27.