The cash was recovered from the possession of Subhash Sharma, a Burhanpur-based cloth trader, at Gwalghat, about 20 km from the Khargone district headquarters, last night.
Sharma told the police that he was carrying the cash for a purpose related to his business, but this was not found to be satisfactory and he was taken into custody, said Sub Divisional Officer of Police (SDOP) O P Kalesh.
In view of the bypoll -- necessitated by elevation of BJP MLA Vijay Lakshmi Sadhu to Rajya Sabha -- the district election officer has issued instructions that whenever a sum of Rs 1 lakh or more is withdrawn from a bank, the authorities must inform the district election office.
