Police have arrested two persons, both natives of Jharkhand, in connection with the theft of jewellery worth Rs 1.37 crore from a shop in Maharashtra''s Thane city, an official said on Wednesday.

The incident took place in Vartak Nagar area on January 17 after thieves drilled a hole into the jewellery store's wall from a neighbouring fruit shop which they had allegedly rented some weeks earlier, he said.