Three men, including one from Rugby, have appeared before magistrates charged with firearms offences.
All three were arrested on Newtown Road at the junction with the A444 in Warwickshire on Thursday evening at 5.30pm by officers from the Regional Organised Crime Unit (ROCU).
A vehicle was searched and a loaded firearm with further ammunition was recovered.
Gordon McCallum, aged 32 from Wood Street, and John McDougall, aged 48 from Dark Lane, both in Bedworth, were charged with possession of a firearm with intent to endanger life and possession of class A drugs.
Thomas Knight, aged 27 from Clover Close, Rugby, was charged with possession of criminal property and cocaine.
McCallum and McDougall were remanded into custody and Knight was given conditional bail pending a further hearing at Birmingham Crown Court on 3 April.