Two residents of Delhi, identified as Nitin Kumar (28) and Upender Gupta alias Bittoo (23), were arrested on Tuesday in this connection, police said, adding a country-made pistol of .12 bore and five live cartridges were seized from them.
Police have seized a Hyundai Accent car bought by Nitin using the robbed money. They have also recovered Rs 6.5 lakh and foreign currencies worth Rs 5 lakh from Nitin's house.
The foreign currencies include 325 US Dollars, 175 Pounds, 155 Euro, 900 Canadian Dollars, 470 Australian Dollars, 12,620 Thailand Baht, 6,000 Hong Kong Dollars, 36,250 Nepalese Rupee, and 1,665 Malayasian currency.
The robbery took place on January 13 when Dalip Kumar Chhabra, who works as a money exchanger at Majnu Ka Tila in Delhi, was going to his house with Rs 18 lakh cash in Indian Rupees and foreign currency worth Rs 18 lakh.
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"Around 09:15 PM while he was crossing Azad Pur Flyover, one Esteem car waylaid him and forced him to stop. One of the occupants pointed pistol at Dalip and directed him to hand over the cash."
A case was registered on Chhabra's complaint and investigation was taken up. Sources were deployed and necessary intelligence about the gang involved was gathered and members of this gang were narrowed down, said Yadav.
On Tuesday, on receipt of specific information, Nitin was apprehended and Rs 50,000 robbed cash was recovered from him.
A raid was also conducted on Nitin's house and Rs 1 lakh and foreign currency of various countries was recovered.
Efforts are on to nab Ankit and recover the remaining cash, police said.