Surjeet Singh, 30, and Sushant Basak, 27, both residents of Delhi, were arrested on Friday near north Delhi's Kashmere Gate bus stand, the police said.
According to the police, the accused had cheated Manish Jaiswal of Rs 12 lakh on the assurance of granting him a loan of Rs 25 lakh from their Delhi-based "Citizen Finance Company" in 2014.
"Jaiswal gave Rs 12 lakh as a processing fees for the assured loan. For the payment of this amount Jaiswal had borrowed from other sources," Joint Commissioner of Police (Crime Branch) Ravindra Yadav said.
"A phone call from the company on December 23, 2014 shocked Jaiswal as he was told that his loan file would be closed if he fails to pay another processing amount of Rs 3.50 lakh. Due to fear and shock he committed suicide along with his wife and son," the officer said.
Chhattisgarh police subsequently filed a case under section 306 (abetment of suicide), 420 (cheating), 120 B (criminal conspiracy) and 34 (criminal act done by several persons) of Indian Penal Code against the culprits.
A cash reward of Rs 10,000 was also declared by a legislator on their arrest, the officer said.
Surjeet informed the police that he along with his other associates Sushant, Govinda, Nitin and Abdul started the "Citizen Finance Company" and cheated many people on the pretext of providing loan on easy terms and conditions.
"Once, the amount was credited in their account, they switched off their mobile phones," the officer said.
