A Mumbai magistrate's court Wednesday remanded to police custody a Delhi resident who was arrested for possessing and trying to illegally sell snake venom, an official said

Acting on a tip off, Mumbai police had arrested Naeem Jaffer Baxi who was found moving in a suspicious manner in the Sion area of southcentral Mumbai late Tuesday.

"Baxi has been remanded to police custody till Oct 24 and we are investigating the matter," an official from Sion Police Station told IANS.

Baxi, when intercepted by police, tried to escape, but was caught and snake venom worth Rs.4 crore recovered from him.

"Baxi was found moving suspiciously near Sharda hotel in Sion. He was found with the venom filled in many plastic bottles. We will question him as to why he was carrying the venom and to whom he was planning to sell it," the official said.