The Crime Branch of Delhi Police on Thursday arrested two robbers from Dwarka after a brief encounter.
One of the accused had invested his share of the booty in a cable television network.
Police said with the arrests, they solved a series of robberies.
The two allegedly looted Rs 1.26 crore from different people at gunpoint.
Virender (21) and Narender Bhist alias Commando (41) were caught near the DDA flats in Dwarka’s Sector 16-C around 10:30 am.
Additional Commissioner of Police (Crime) Neeraj Thakur said three other people escaped.
“We had intercepted a car with three persons and a motorcycle with two men. They were asked to stop but two of them whipped out guns and fired at the police. The police overpowered them and snatched their weapons.”
During the scuffle, Head Constable Rajeev fractured his arm.
Thakur said five days ago, the gang had robbed around Rs. 28 lakh from a man at Karol Bagh at gunpoint.
On September 14, they tried to rob Rs 10 lakh from a person in Karol Bagh.
On September 4, they snatched two bags with mobile phones and Rs 98 lakh on DBG Road.
The gang had also opened fire at a businessman on July 27 when he resisted their robbery attempt.
Using the looted money, the two had allegedly bought a plot worth Rs 12 lakh and household articles worth Rs 3 lakh.