The Directorate of Revenue Intelligence (DRI) seized gold and cash worth over Rs 14 crore from a bullion merchant in the Karol Bagh area Friday and arrested him, officials said.
A total of 35 kg of gold worth over Rs 11 crore has been seized from a commercial property owned by the trader, they said.
The gold is suspected to have been smuggled into the country, they added.
DRI officials have also seized Rs 3.25 crore cash, they said.
"Over Rs 14 crore worth of gold and cash has been seized, and the gold trader has been arrested," a senior DRI official said.