The arrested were identified as Dharmendra Sanatan Muzumdar (42) and Abhijit Ajit Mallik (22), both residents of Barasat in West Bengal, police said.
"The duo had brought a 16-year-old school girl from Barasat of West Bengal under the pretext of finding a job for her," police inspector Madan Ballal of Thane Crime Unit said.
He added that after bringing the girl here, the duo locked her at their house in Mumbra and later pushed her into flesh trade at a local lodge.
The girl, however, managed to escape from there and rushed to a police station and narrated the whole incident, after which the duo was nabbed, he said.
The girl was sent for medical examination, police said adding that the duo has been booked under Sections 363 and 366 of the IPC and further investigations were on.
Police are now trying to find out how many girls the duo had pushed into flesh trade.