Mahimananda Mishra, managing director of Odisha Stevedores Ltd, and Basant Bal were detained yesterday in Thailand, with the assistance of Interpol, and the process was being expedited to bring them to Odisha, state DGP K B Singh said.
Mishra and Bal would be formally arrested after they reach India, the DGP said.
According to police, the duo had escaped to Kathmandu via road after hiding in Amritsar and Gurgaon following the murder of Seaways Shipping official Mahendra Swain on October 26.
On Friday, a Kujang court had issued a non-bailable warrant against them.
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So far, seven persons have been arrested in connection with the murder, Singh said.
The key accused in the case Susant Sethy, another close associate of Mishra, was arrested by police from an airport in New Delhi on Friday. Sethy had helped Mishra and Bal escape to Thailand.
The two had reached Bangkok from Nepal on 15-day tourist visas, police said adding that a lookout circular had been issued for Mishra earlier.