The Anti Narcotics Cell (ANC) of Mumbai Police has arrested two persons and seized charas worth Rs 40 lakh in Masjid Bunder area here, an official said on Wednesday.
A team of Azad Maidan unit of the ANC found two persons moving in the area suspiciously on Monday night, he said.
They were found to be carrying 1.2 kg of charas, a form of cannabis.
It was suspected that they had procured the drug from outside Maharashtra for selling in the city. Further probe is on, the official said.