The police have arrested two people for allegedly duping a businessman of nearly Rs 18 crore by illegally selling him a land owned by the City and Industrial Development Corporation (CIDCO) in Navi Mumbai, an officer said on Monday.

The role of some officials of CIDCO — a Maharashtra Government agency — and revenue department is also under the scanner for allegedly helping the accused in the crime, the officer informed.

The Navi Mumbai Police's Economic Offences Wing (EOW) on Friday arrested the two accused, identified as Muazzam Maqsood Bhaiji and Ibrahim Bhaiji, on charges of cheating, forgery and criminal conspiracy, the officer added.

During the probe, the police found their property has been acquired by CIDCO, for which they received compensation, but they later allegedly forged the property documents and sold the same plot to the businessman, he said.

The police are also on the lookout for two more accused in the case — Tulsi Jashnani and Gautam. Another accused, Mahesh Alimchandani, died last year, as per the police.