Shardendu had applied for anticipatory bail, which was rejected by the Tis Hazari court, the officer said, adding that he later surrendered to the police.
The police said they would be jointly interrogating the Goel brothers to know about the lapses that had led to the incident.
Rakesh has admitted that norms were violated by the hotel and that an illegal construction was carried on an entire land when the permission was for only 60 per cent of the land.
The hotel operated without a licence from 1993 to 2002. The Goel brothers obtained a licence to run the hotel only in 2002.
The hotel, which was ravaged in the fire, was mortgaged with a bank from which the brothers had taken a loan for running a liquor factory in Maharashtra's Kolhapur two years ago. The factory was shut down since the brothers incurred losses, the officer said.
This is the fourth arrest in the case. Earlier, the hotel's general manager and receptionist were arrested in connection with the incident.
A look-out circular (LOC) was issued against Rakesh and Shardendu. Rakesh was abroad at the time of the incident.