The police identified the accused as Jabbar and Mohammad Furkan, both residents of Meerut in Uttar Pradesh.
Madhur Verma, Deputy Commissioner of Police (DCP), New Delhi district, said in view of a series of thefts by Thak Thak gangs and street crimes, police presence has been increased and various teams formed to keep a check on the crime.
"On June 14 around 5 p.m. a police team present at Janpath traffic intersection at Connaught Place heard cries for help. The team rushed towards the place at Sansad Marg where they saw two persons running away. The team members caught them after a brief chase. The victim Vikram Singh reported that the accused had knocked at his car as he waited for the traffic signal to turn green. After distracting him, the accused snatched his wallet lying on the dashboard of the car and ran away," said Verma.
"On the complaint of the accused, an FIR was registered at Connaught Place police station and the accused were arrested," said the DCP.
Police have also recovered the wallet stolen from the victim's car.
"Accused Furkan has told us that the gang members stole mobile phones and wallets and sold them at throwaway prices to unknown buyers," said the DCP.
( With inputs from IANS )