The two were arrested on June 10 on the charge of cheating with forged documents in the name of some employees of their firm to procure land in nearby New Town area of Rajarhat in North 24 Parganas district.
Some of those employees had earlier alleged that their names were fraudulently used to procure plots but they were not the real owners.
The two were arrested from their Salt Lake residences, in North 24 Parganas.