On Friday, police in Thane, arrested two people for possessing ambergris worth around Rs 3 crore. Officers intercepted the duo near a local hotel in Wagle Estate after receiving information.

Senior Inspector Kirankumar Kabadi revealed that the men were carrying a sack containing the valuable substance derived from the bile duct of the sperm whale. Ambergris is known as "floating gold" and is highly sought after in the world's luxury perfume markets.