Thane crime branch officials have seized Rs 1 crore in demonetised currency and detained two persons in this connection.
Acting on a tip-off, a police team kept vigil near a hotel in Talaopali area last night and found the duo moving suspiciously, said senior police inspector (Crime) Ravindra Doipode.
The illegal currency was stacked in a sack and a handbag, he said.
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Police have identified the duo as Manoj Cheda (36), a resident of Parel, and Prathamesh Bhaskar (22) from Dadar.
They have recovered 6,455 notes of Rs 1,000 and 7,090 notes of Rs 500 from the duo.
The seized currency was later handed over to the Income Tax department for further probe as the suspects could not explain the source of the money.
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