Pawan Banjara was arrested while the main accused, Mukesh Bisht, is still on the run, police said.
According to Udyog Vihar SHO Rajinder Singh, call centre employee Sunil Kumar asked his supervisor Mukesh for a leave after he got to know that his wife delivered a baby boy.
Mukesh refused the leave and an argument followed which led to the brawl.
Apparently miffed Mukesh called his three friends -- Pawan Banjara, Ram Krishna and Hare Krishna -- in a bid to take revenge on Sunil, the SHO said.
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Mukesh and his aides attacked with sharp weapons resulting in the death of Ram Avtar and Devinder while Sunil and Sanjay was critically injured.
Sanjay and Sunil have been admitted to a private hospital where their conditions are stated to be out of danger.
The SHO said police would soon arrest the remaining three assailants.