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The arrested accused have been identified as Dhanraj Vijay Parmar (42) and Ajaysingh Kishoresalanke (23) residents of Keshavanagar of Haveli taluk of Pune.
Police officials have seized Rs 1 lakh worth of gold from the accused.
The accused had stolen the ornaments during a exhibition-cum-sale organized by Mangaluru-based Orra Fine Jewellery Pvt Ltd at UVA Meridian Hall at Koteshwar near here.
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As per the complaint, gold bangles weighing 43 grams were found to be missing when the firm did a stock check of the ornaments at the end of the exhibition.