Thrissur-based Manydas K Venu, who is in Goa to participate in the ten-day cinema fest, was arrested from his hotel room this morning and the laptop was recovered from him, Police Inspector Rajendra Prabhudesai said.
Initially, police had rounded up several security guards from IFFI premises to crack the case.
"The breakthrough was achieved after one of the security guards tipped us and informed about the accused," Prabhudesai added.
Mohan's laptop had gone missing on November 22, two days after the festival opened in Panaji.
The laptop had important information about the festival.