Four people travelling in a car were detained with Rs 12 lakh cash in the early hours of Friday in Mumbai's Sewri area, the Election Commission informed.
The EC statement said Sewri police intercepted a tourist vehicle at around 2:30am and found Rs 12 lakh cash in a bag in it, following which the four occupants were taken to the police station.
While one of the persons detained, identified as Zuber Samiullah Khan, said the Rs 12,01,500 was for his business purposes, he failed to give satisfactory answers on its background, the statement said.
Income Tax authorities have been informed and the police are also conducting a probe, the statement said.
The three others in the car were identified as Syed Shahbaz Mohammad Shah Alam, Yusuf Usman Sheikh and Akbar Salim Pathan.