The three Territorial Army men were mercilessly assaulted by a mob on October 18.
"Police have so far arrested 18 accused, including the main conspirators, in the case of the attack on the Army personnel, and recovered cash, ATM cards and mobile phones looted from them," a police spokesman said.
"A police party was rushed to the spot and after strenuous efforts, the injured Army men were rescued," he said.
"Bhathatched a conspiracy to get the Army men killed by falsely accusing them of being braid choppers. He raised an alarm near Sheeri Market, leading to a violent mob attack on them," he added.
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He said that certain elements have been using the braid- chopping incidents to disrupt peace in the valley, spread animosity between people and the security forces, and create an atmosphere of fear and uncertainty forcing women to remain confined to their homes so that the radical religious agenda of these elements are realised.
He said policemen were looking for 15 people involved in an attempt to murder a youth by running him over with a tractor.
Police have also arrested 10 people involved in assaulting a soldier after accusing him of being a braid- chopper in Kupwara district.
Three youths were arrested in connection with the thrashing of two men by a vigilante group in Nishat area of the city on October 6.