in sacks and then dumped by workers of a company on Parsa Kheda road at C.B. Ganj in Bareilly.
Police officials said prima facie, the currency notes appeared to have been cut, damaged and then burnt.
The police has since taken over the remains of the currency notes and the Reserve Bank of India (RBI) officials have been informed of the incident.
Prime Minister Narendra Modi on Tuesday evening announced demonetisation of Rs 500 and Rs 1,000 denomination currency notes
Video: ANI
Music: Big Bang Fuzz