According to Special Operations Group sources, Chairman Kamal Mehta and examination controller Lalchand Gehlot were arrested after the charges against them found to be substantiated in a preliminary investigation.
"They have sold nearly 300 degrees for different undergraduate courses from the university besides running some courses like engineering without any recognition," an official said, adding that they would be taken to Jaipur for further investigation.
Mehta was first arrested by SOG last January for allegedly selling fake degrees. He was sent to judicial custody but he obtained bail later.
The government had lately barred operations of the university, except for the regular courses and had appointed a commissioner to take control and look after its affairs.