The company said that the gang used to target residents in posh localities, telling them that their electricity meters were tampered with and that they could "settle" the cases in lieu of money.
"This breakthrough came on a back of a well-coordinated operation, involving the residents of R K Puram and Sant Nagar, smart sleuthing by BSES' Vigilance Team and the Delhi Police," a BSES spokesperson said.
The gang leader Rahul Sharma alias Brijesh Sharma, along with one of his main accomplices, has been arrested by the police.
"They used to scare unsuspecting but gullible well-off residents by telling them that their electricity meter is tampered, which tantamounts to power-theft - not only attracting a heavy penalty, but also imprisonment. Later, they used to 'settle' the case for a 'sum'," the BSES spokesperson said.
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BSES said it had received a tip-off about the gang from a resident in R K Puram.
"On interrogation by the Police, Sharma revealed that his real name was 'Brijesh Sharma' and confessed to operating primarily in posh areas of South Delhi," BSES said.
"We have been routinely urging our consumers to be wary of such unscrupulous elements. We once again appeal to our consumers not to get intimidated or induced by the threats and false assurances of the 'impostors' and not give them any money - whatever be the reason," the BSES said.