A 39-year-old man was arrested from Kharghar in Navi Mumbai Wednesday for allegedly possessing banned Ephedrine worth Rs 70 lakh, the police said.
The accused, identified as Abil Prakash Robert Monteiro, told the police that he sourced the 4 kg contraband from Chennai, said DCP (Crime) Thane Deepk Deoraj.
The drug was meant to be supplied for rave parties, he said.
"The total value of the seized drug is Rs 70 lakh in the Indian market," said the DCP.
Monteiro has been booked under various sections of the NDPS (Narcotic Drugs and Psychotopic Substances) Act and remanded in police custody till October 30, he said.