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The teenager, a resident of Ulhasnagar, has been booked under Indian Penal Code (IPC) sections 307 (attempt to murder) and 504 (intentional insult with intent to provoke breach of peace) and also provisions of the Maharashtra Police Act, said a police officer.
He was detained on Wednesday, a day after the stabbing incident, he said.
The police, quoting from a complaint lodged by the victim, said on October 3, the accused met him near a shop and stabbed him in the abdomen with a knife.
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The 30-year-old man was rushed to a hospital where doctors removed the knife from the abdomen after 20 hours of surgery.