The three owners are wanted in connection with the December 29 Kamala Mills fire that claimed 14 lives, police said.
The Sanghvi brothers, who were on the run since the incident, were arrested from the Andheri area here, Additional Commissioner of Police S Jaikumar told PTI. Police claims that Kariya, who was arrested on Tuesday, had "sheltered" the owners of 1Above pub who have been absconding ever since.
The police said they detained the Sanghvis from Pune and the brothers have been placed under arrest.
Police recovered a high-end auto of Mankar, which was found parked at Kariya's place, he said.
The duo have been charged with Indian Penal Code sections 304 - Punishment for culpable homicide not amounting to murder, 337 - Causing hurt by act endangering life or personal safety of others, 338 - Causing grievous hurt by act endangering life or personal safety of others and 34 - Common intention.
The police have announced price money of Rs 1 lakh for information of the trio who have been hiding since December 29.
Crime branch officers fear that the three owners of the pub may have fled to Dubai.
Meanwhile, as a fallout of the Kamala Mills Compound fire, only one among 14 applicants got a nod for rooftop restaurant in Mumbai. They had also arrested Yug Pathak, a co-owner of Mojo. In a related development, the Bombay High Court, while hearing a PIL, today said that authorities must ensure that norms are followed when giving clearances for commercial establishments. Joint commissioner of police (law & order) Deven Bharti said they had learnt the Sanghvis were likely to meet a senior lawyer in Bandra and laid a trap.