Police said they arrested an associate of the kingpin, Ranga, and another person named Lakhan on a tip-off.
SP City, Shravan Kumar Singh, said Rs 45,000 in cash, a country-made pistol and cartridges were recovered from the kingpin's associate.
A gold chain weighing 100 gms was recovered from Lakhan, Singh said.
Two jewellery traders were shot dead while three others were injured in daring loot bid in Koyalawali Gali falling under the Kotwali police station on May 15.
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