ATS sleuths laid a trap and arrested Pankaj alias Gazni Balasaheb Hinge (27) and Sanju Deepak Sarsar (19) in Khadki Bazar area in Pune.
"ATS recovered one country-made pistol, two country-made revolvers and five live cartridges worth Rs 1.21 lakh from the duo," he added.
Hinge has criminal record in Pune city and Sarsar is a nephew of fugitive gangster Rakesh Dholakiya alias Mahakali.
Mahakali, who was wanted for 14 serious offences, including murder, three attempts to murder, extortion and assaults on police, was killed in encounter by Pune Police in December 2011.
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