An elephant tusk worth Rs 25 lakh in the international market was seized and two persons were arrested from Maharashtra's Thane in this connection, police said on Friday.
The action was taken on Thursday evening, police said.
"Based on a tip-off, the crime branch of the city police laid a trap at the old check-post near Gaimukh, where they found two men carrying a gunny bag," a police official told reporters.
"The police apprehended the duo and searched the gunny bag, in which an ivory was found," he said.
The two, identified as Sachin Chowgule and Pravin Shere, both residents of Mumbai, told the police that they were planning to sell the tusk for Rs 5 lakh and its cost in the international market was Rs 25 lakh, the officer said.
Tusks are used for making showpieces, ornaments and other decorative items. They are also believed to have medicinal properties.
Elephants are protected under Schedule I of the Wildlife Protection Act, 1972.
Kasarwadavali police have booked the accused under different sections of the Wildlife Protection Act and further investigation into the case was being carried out, a police official said.