The unaccounted money was recovered by the Assam Rifles troopers from two persons at Diltlang village, which is located along the India-Myanmar border.
Besides the unaccounted money, a China-made Kenbo motor cycle and three mobile phones were also recovered from the two persons.
The seizure and arrest of the two persons were carried out following a joint operation by Assam Rifles troopers and Mizoram Police.
A total of Rs 16,07,700 in cash was recovered during the seizure.
The two arrested persons along with the seized money, motorcycle and the three mobile phones were later handed over to the police in Champhai for further investigation.
In another seizure, a joint team of Assam Rifles and Custom Preventive Force seized 390 bags of areca nuts from Sesih village in Champhai district on Friday.
The seized areca nut consignment carries a value of over Rs 85 lakh.
The consignment of areca nut was smuggled from Myanmar.