Police have also seized seven pistols, a large number of magazines and cartridges from their possession, Senior Superintendent of Police Deepak Kumar told reporters.
Shoib, Shehzad and Khalid were arrested from near A to Z colony by a team of policemen led by New Mandi police station SHO Rojen Tyagi, the SSP said.
Kumar said the gang was supplying arms to different parts of the country.