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The accused, Vinod (21), a resident of Malviya Nagar, Kshtij (23) and Ankit (19), residents of Sangam Vihar, were arrested on Thursday, they said.
A country-made pistol, a knife, a stolen mobile phone and a motorcycle were recovered from their possession, police said.
The incident occurred around 1 am on Thursday, when the trio called one Karan to meet following which they had a heated argument and Ankit shot him, a senior police officer said.
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While fleeing from the spot, the accused robbed a delivery executive’s motorcycle and mobile phone, Chowdhary said.
After scanning the footage of CCTV cameras in the area and questioning the two victims, raids were conducted and the accused were arrested, Deputy Commissioner of Police (south) Chandan Chowdhary said.
Two cases were registered in Neb Sarai police station and investigation was taken up, the senior officer said.