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The accused were arrested in two separate cases.
Based on inputs, the customs department intercepted a man after his arrival from Kathmandu on Sunday.
The detailed examination and personal search of the passenger resulted in recovery of gold weighing 860.38 grams, valued at Rs 55 lakh, the department said in a statement.
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The customs department said that the two other passengers, also from Sri Lanka, were intercepted after their arrival from Colombo on Sunday.
A detailed examination of their baggage and personal search resulted in recovery of gold weighing 1.06 kg, having total tariff value of Rs 67.82 lakh.
Both the men in this case were arrested and the gold was seized.
The seized gold is worth around Rs 1.23 crore, a senior customs officer said.