Pulpally: Police on Sunday nabbed a five-member gang who were trying to handover demonetised currency notes having a face value of Rs 1 crore at Pulpally in Wayanad.

A police team led by Manathavady DySP KM Devasya nabbed the gang.

The gang was trying to smuggle the banned currency of Rs 1000 and Rs 500 denominations in a Maruti Alto car by hiding them in pepper sacks. The gang told the police that they collected the notes from Payyanur.

The notes were brought to Pulpally in a bus. The police nabbed the gang on a tip off while the gang was trying to smuggle the notes in the car.

While two of the gang members are natives of Iritty, three others are Wayanad natives.