Gang leader Sunil Dalal aka Tinu Chhariya, 32, and Mohit Kataria aka Sonu, 28, were arrested on August 10, the police said.
The police seized a .12 bore pistol with around 30 rounds from the accused.
"Both were arrested from Kakrola area when they arrived to meet their accomplices," Joint Commissioner of Police (Crime Branch) Ravindra Yadav told reporters.
"Hailing from a wealthy family, Tinu became a gangster after coming in contact with Ravinder Bholu and Manjeet Mahal, two gangsters from the same area," he said, adding that Tinu is known for running an extortion ring.
"Tinu Chhariya was also wanted for killing gangster Pradeep Bhanja on July 18, a member of the rival Vikas Lagarpuriya gang, over a monetary dispute," the officer said.
Earlier, gangsters Pradeep Fauzi, Gulshan Shetty and Sudhir Mandra, accused of killing Pradeep Bhanja, were arrested.
The police said Mohit Kataria was wanted for murdering a gym trainer Pawan Sharma.
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