Based on a tip-off, a joint team of the Mumbai and Amravati police nabbed the accused from the Musafir Khana area on Thursday, an official said.
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The police seized 202 knives of various makes and sizes, of which nine were 21 inches long, he said.
The Amravati police had also received information about the accused and had arrived in the city to apprehend him, the official said.
The accused, Sayyad Qamar Hussain, a resident of Bandra, has been booked under the Arms Act and Maharashtra Police Act, he said, adding that a probe is underway.