Here are 10 latest updates on the big story:
The damaged boat was found near Harihareshwar Beach in Raigad, 190 km from Mumbai, by fishermen. Three AK-47 rifles, bullets and documents were found on it.
Devendra Fadnavis, who also handles Maharashtra's home department, said, "As of now, there has been no terror angle. But investigation is going on. We can't rule out any angle as of now. I am just sharing primary information so there is no panic".
"Also we can't say right now why arms and ammunition were present on the boat. The matter is being investigated," he added.
"We are in touch with the Central agencies and they have confirmed this information," Mr Fadnavis said.
As of now, the local police and the Anti-Terror Squad are investigating the matter.
The boat, called Lady Han, is owned by Hana Laundergun, an Australian citizen. Her husband James Harbert is the captain, Mr Fadnavis said.
The 16-meter boat was on way to Europe via Muscat when it developed engine trouble on June 26. Around 1 pm that day, the boat's crew were rescued.
But the boat could not be towed and was abandoned. Eventually, it reached the Harihareshwar coast.
Security has been tightened at the coast and the area put on high alert. The Coast Guard and other agencies have been informed.
Raigad MLA, Aditi Tatkare, said that she has requested the Maharashtra Chief Minister for a special probe into the incident. She also said that the incident is a major security scare as it comes a day ahead of a big festival.
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