"We have found rare fossils of shark's teeth from Narmada valley in Dhar district, about 125km from Indore, during an excavation," said Vishal Verma, head of Mangal Panchayatan Parishad, a researchers' group.
Mr Verma said the fossils might be about 6.5 to 10 crore years old, and could belong to three different eras, as they were discovered in three different layers of earth.
"The fossils look like the teeth of present-day tiger shark. The longest fossil is about 14 centimetres," he said.
Going by the fossils' dimensions, length of this predator-creature would have been around five to six feet, Mr Verma said.
According to him, the Narmada belt - from Dahod to Jabalpur - also witnessed the dinosaur activities millions of years ago.
However, the geographical developments extinguished both dinosaurs and sharks from the Narmada Valley in the later period. Researchers have found fossils of dinosaurs, ostrich, hippopotamus and stegodon (a rat-like extinct species) in the region.