4.8 crores worth demonetized 1000 rupees currency notes were confiscated by the Police department near Kalaiyarkoil in Sivaganga District.
Varalakshmi, a Chengalpattu resident, has been named as the suspect.
Varalakshmi had taken the money to Arul Chinnappan of Valayampatti near Kalaiyarkoil who promised her to change it to new currency notes.
The police went to Valayampatti and seized the money based on the confidential information received by the Kalaiyarkoil Inspector.
Suresh Kumar and Varalakshmi reportedly run an NGO in Chengalpattu.