The police have also seized four stolen mobile phones, a wallet containing Rs 2,400 in cash, debit and credit cards from the accused, identified as Nasim alias Nasir (26).
Following the arrest, police claim to have worked out 32 theft cases.
According to police, Nasim was arrested while the security personnel were patrolling the area during night on April 8.
"In view of the gang's recent criminal activities, our men were briefed about their modus operandi and asked to remain alert.
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Police said the complainant, whom Nasim allegedly robbed along with his associate (Rafiq), in this case was looted at Andrews Ganj bus stand.
"When the complainant was near Andrews Ganj bus stand, two boys (one of them being Nasim) came and diverted his attention by knocking the door of the car. Nasim picked up the complainant's valuables and escaped from the spot," police said.