The criminals were identified as Ranjit Singh Dupla and Gurcharan Singh, Inspector General Police (IGP, Bathinda Zone) Pramraj Singh Umaranangal, said today.
The accused were arrested on Wednesday from the Chahal Road here during a checking of their car.
He said 10 foreign-made weapons, including 9-mm pistols and .30-bore pistols, worth about Rs 2 crore besides Rs 20 lakh in cash were found in their possession, police said.
They allegedly used to supply weapons to a gangster Sukha, who was recently killed by police in an encounter near Jalandhar, the IGP said.