The arrested have been identified as Prakash, Sujeeth Farooq, Hamza Kunhali, Parvat Singh and Abdul Sattar, Karwar SP R Dilip told PTI here.
While Parvat Singh and Prakash are natives of Rajasthan and Karnataka respectively, the rest are from Kerala, he added.
The gang was intercepted at Ankola on a tip-off given by Rajasthan Police, Dilip said.
The Rajasthan police had informed them that the gang had committed dacoity in Jaipur and were on their way to Kerala via Mumbai, Karwar and Mangalore, Dilip said.
Karnataka police have already handed over the gang members to Rajasthan police, Dilip said, adding that one car and jewellery worth crores of rupees were recovered from them.