The accused were trying to change the old currency notes with new ones on March 1, they said.
The police's crime branch received information about four youths and a team immediately intercepted their car at the Himgiri Chowk at Sector 10.
"We have arrested them and seized the car. During the search, the police team found a suitcase containing 49.90 lakh old currency notes," said Gurgaon police PRO Ravinder Kumar.
Sanjay Lal, Bithal Keser, Lucky Sharma, and Satya Narayan Mandal have been arrested.
"On Friday, a police team asked Sanjay to contact Miglani and inform him that the job had been done. He fixed a meeting at the AIIMS metro station. When Miglani came to AIIMS, the police team arrested him," he said.
A case under relevant IPC sections has been registered at the Sector 10 police station.
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