The tempo driver and cleaner have been detained, a senior police official said.
The meat was apparently brought for sale from Panvel in neighbouring Raigad district, he said.
Acting on a tip-off, the police searched the tempo parked on a roadside in Shivaji Nagar and seized the consignment.
Samples have been sent to the Forensic Science Laboratory in Kalina for examination, Deputy Commissioner of Police (zone-VI) Shahaji Umap said.
The seized meat has been handed over to the municipal authorities for disposal, he said.
"We have detained the driver and cleaner of the tempo and their interrogation is on," the DCP said, adding that appropriate action will be taken after they receive the chemical analysis report of the seized meat.
Under the Maharashtra Animal Preservation (Amendment) Act, the slaughter of bulls and bullocks, besides cows is banned in the state.