Raju was arrested from Tarn Taran road, SHO civil lines Sukhwinder Singh said here.
Raju was the prime accused in cable operator Jaswinder Singh Jassi's suicide.
Police yesterday arrested two other accused Paritpal Singh Palli and Gurinder Singh Babbi.
Victim Jaswinder Singh Jassi, a local cable operator had consumed some poisonous substance at a hotel room on March 28 in the presence of Chairman and a member of Telecom Dispute settlement Appellate Tribunal (TDSAT) and other judges following which he was hospitalised.
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Police had booked three persons including Managing Director of a cable network, Raju, Lalli and Babbi, under section 306 (abatement of suicide) of the IPC.
Jassi was a prime witness in a case involving Raju, going on in a CBI court at Patiala.
In his suicide note, Jassi had said that he was being exploited by cable trade big-wigs and they had taken over most of his business due to which his wife also suffered an paralysis attack.
His suicide note had named three people including his former partner Lalli, Raju and Gurdip Singh of Jujhar Transport.