Naveen Bhai and Kalpesh Bhai, hailing from Gujarat, were on their way to Ahmadabad in private buses with Rs 30 lakh and Rs 45 lakh respectively, police said.
The buses were checked following a tip-off and the money was seized, said Circle Officer Abu Kailash Singh.
"Primary investigation indicates that it was hawala money and being taken to Ahmadabad from Jaipur," he said, adding, that no arrest was made.
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