"The duo, identified as Manish Chouhan (31) and Ganesh Nayyar (25), were apprehended for allegedly snatching a bag containing Rs 14 lakh from Manish Salvi near Patel bridge on July 14," Additional Superintendent of Police (ASP) Crime Branch, Dilip Soni said.
The incident took place when Salvi was on his way to deposit the cash in a bank when he was waylaid.
"Police have recovered Rs 6 lakh in cash, a motorcycle used in the crime, besides two new bikes purchased by them apparently from the booty," the ACP added.