Police arrested Dhananjay, who has been involved in more than 28 cases of snatching, while his accomplice Shakeel managed to flee, a police officer said, adding that the injured passersby were identified Inderjeet and Ramnav.
"One country made pistol, two cartridges and a stolen motorcycle were recovered from the accused," Deputy Commissioner of police (East) Ajay Kumar said.
"The accused used to snatch chains from women. They used to brandish pistols and never hesitated to fire in case of any resistance from the victims," he said.
A case under appropriate sections of the Indian Penal Code and Arms Act was registered at Jagatpuri police station and further investigations are underway, police said.