Unit 2 of the Mumbai crime branch on Wednesday seized Rs50 lakh, including Rs47 lakh in new Rs2,000 new notes.
According to the police, five men were carrying the cash. When the policemen reached the spot, four of them escaped after handing over the cash to one man.
During the search, the police found Rs47 lakh in Rs2,000 notes and six bundles of Rs500 in old notes (Rs3 lakh).
The suspect was brought to the crime branch unit 2 for questioning.
The suspect claims the cash belongs to him, said a crime branch officer.
“He is not revealing the names of other accused. The income tax department was informed and after conducting a panchnama, the suspect was handed over the IT department for further investigation,” said KMM Prasanna, additional commissioner of police, crime branch.