The accused attacked the MLA when he was talking to people at the veranda of his house last night, police said.
Accused Vishnu, Nankiya, Ravi and Vishambhar have been nabbed and are being interrogated after the MLA's personal assistant Shashikant Chauhan lodged a complaint, Mandu Town Inspector Anirudh Wadia told PTI.
He said that the accused have been booked under Section 307 (attempt to murder) and Section 34 (act done by several persons in furtherance of a common intention) of the Indian Penal Code.
However, District Superintendent of Police Rajesh Hingankar said that initial investigations into the incident indicate that the attack is the fallout of a property dispute.