KOCHI: Demonetised currency notes having a face value of Rs. 30 lakh were seized from three persons at Chavakkad near Guruvayur on  Wednesday.

A team led by Circle Inspector K.G. Suresh arrested Sajikumar of Punalur in Kollam, Abhilash of Koratty in Thrissur and S K Mani of Varkala in Thiruvananthapuram and seized banned currency notes of Rs. 1000 and 500 denomination.

Sajikumar is a contractor from Gujarat from where the notes were brought.

Mani is a teacher in a tutorial, while Abhilash is a timber merchant. It is learnt that Abhilash had offered them Rs 7 lakh in exchange of the banned notes.