The missing youths Deepak Mallick alias Dipu and Om Swain alias Om were close associates of the accused Dhalsamant brothers and working in their gang, said Commissioner of Police Y B khurania.
Though there were allegations of two murders, only Dipu's father Adwaita Mallick had lodged the FIR.
Dipu was allegedly abducted and killed in November, 2013.
The duo were allegedly involved in various activities including tender fixing and for some reason they had differences with the Dhalsamant brothers in 2013 and since then they went missing, he added.
The Commissionerate Police arrested Sushant Dhalasamanta and Sushil Dhalasamanta from a rented house in Pokhariput area here on January 29 on the basis of Adwaita's FIR at the Chauliaganj police station in Cuttack following directions from the court.