According to police, the incident came to light on October 20.
Two persons were arrested for the daylight robbery of Rs one crore and fifty thousand in Old Delhi, police said on Monday.
The police arrested Abdul Hasnain, 39, a parantha seller and his associate Madan Lal, 45, a portrait artist, both from Delhi's Jama Masjid area, on Saturday night during a raid and recovered Rs 96.80 lakhs of the stolen money from them, a police officer said.
According to police, the incident came to light on October 20 when Kunal Bansal, a garments export dealer, complained to police about the burglary at his office located at Chandi Wala Phatak near Jama Masjid.
A case was registered following the statement of Mr Bansal at Jama Masjid Police Station, the officer said.
"During investigation, police with the help of surveillance and CCTV footage identified both Abdul Hasnain and Madan Lal and later arrested them, following a tip off, from their houses in Chippiwara and Sita Ram Bazar areas," Deputy Commissioner of Police (DCP) Mandeep Singh Randhawa said.
"They told interrogators that they were aware of the huge amount of cash kept in Bansal's office and made duplicate keys. They burgled Bansal's office after his staff left, locking it from outside," Mr Randhawa said.
They also changed their clothes and used helmets to disguise their identities, police said.