"Builders Jamil Qureshi and Salim Shaikh were arrested from their hideouts today," Thane Police Commissioner K P Raghuvanshi told PTI, adding they were being questioned.
Qureshi was nabbed from Uttar Pradesh, while Shaikh was apprehended from Thane, he said.
Police have registered a case of culpable homicide not amounting to murder against the builders, who were on the run since the Thursday incident. If convicted they can face life sentence.
"Thane Crime Branch has taken over the investigation and those guilty will be punished," Joint Commissioner Vipin Kumar Singh told reporters at the crash scene.
"Rescue operations have been called off. The death toll at present stands at 72 while 62 people have been pulled out alive," he said.
According to the Regional Disaster Management Control (RDMC) sources, those dead include 22 women and 17 children.
Kumar said now an adjoining multi-storey structure, also constructed by the same builder illegally, was in the process of being pulled down.
R A Rajeev, Thane Municipal Commissioner, had yesterday gone on record to say that 90 per cent of buildings in Mumbra area where Shil Phata, the scene of Thursday's tragedy is located, are illegal.
Alok Awasthi, Commandant of the National Disaster Response Force (NDRF), which was rushed from Pune soon after the collapse, too confirmed that rescue efforts had been abandoned as there was no likelihood of presence of any bodies or survivors.
Describing the operation as "complicated", Awasthi said because it was a "sandwich collapse" , with floor lying over floor, it was a daunting task to remove debris from each storey to look for survivors.
"We had to proceed very slowly as any mis-step would have pushed up the death toll," he said.
The Government had yesterday suspended Thane Deputy Municipal Commissioner Deepak Chavan and Shil-Daighar Senior Police Inspector K P Naik for dereliction of duty and for allgedly colluding with the builders.
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