Pune, Jan 08 (Agencies): An official of the Central Excise and Customs department was arrested while taking a bribe of Rs one crore from a businessman here, a top CBI official said on Saturday.

"Acting on a tip-off, a trap was laid and KB Mahadik, a superintendent in the Central Excise and Customs department, was caught while accepting the bribe from the businessman on Friday," CBI Joint Director Rishiraj Singh said.

About Rs 6.8 lakh cash, USD 800, a revolver and 80 files pertaining to Mahadik's property deals were recovered during searches at his residence, Singh said.

Singh further added that the investigating agency was working on the case for last two months. The businessman is associated with a steel rolling mill.