Demonetised currency notes worth Rs 40 crore were seized from a former corporator's house in the city's western suburb, police said on Friday.
"We found the illegal cash in the house of former corporator Nagaraj, during a search conducted on a court warrant in a criminal case and seized the banned notes in Rs 500 and Rs 1,000 denomination," said Police Station Inspector N. Srinivas.
Nagaraj was not present when the police knocked at his house around 5 am, as he allegedly fled on learning about the search team.
Police also faced resistance from Nagaraj's family in entering the house and had to break open the main door with the help of a blacksmith for the search operation.
"As the search operation is continuing, further details will be given later," said Srinivas.
Video: ANI
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