Officials of Mumbai Police and Election Commission on Saturday seized Rs 4 crore cash from a vehicle in Worli, an official said.
Saturday was the last day of campaigning for the Maharashtra assembly elections, scheduled to be held on October 21.
On a tip-off, a vehicle was intercepted at Worli sea face by a squad, he said.
As per preliminary information, the cash belongs to a bank, and it was being transported to another branch of the same bank when it was seized, an official said.
Police have informed Income Tax department and investigation is underway.
"The cash will be released if the claims of concerned persons that it was a routine transfer are found to be true," he said.
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