Ashok and Ramzan Ali were detained during a routine checking while they were about to board a bus, said a senior police officer.
Constable Sandeep stopped them and on checking, they were found to be in possession of Rs 50 lakh each in denomination of Rs 2,000 notes, he said.
They allegedly tried to bribe the constable who did not budge and informed his seniors, he said.
They told police that the money belongs to a man from Meerut.