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Officials, who were informed by the UK National Crime Agency about the stolen car, raided the bungalow and seized the luxury vehicle besides finding unlicensed weapons in another bungalow.
The vehicle was stolen in London a few weeks back and the people involved in the whole racket managed to import the car to Pakistan using documents of a top diplomat of an east European country, sources said.
The said diplomat is said to have now been recalled by his government.
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Officials took the owner of the residence and the broker who sold him the vehicle into custody after the house owner failed to provide adequate documents.
The registration of the vehicle has also been forged, said Customs officials. According to the FIR filed by Customs officials, a tax of more than rupees 300 million was evaded due to the smuggling of the stolen vehicle.
The Customs official said they are still searching for the main mastermind in the whole racket.