The police have formed at least eight teams to investigate the sensitive matter and to know why the three men were heading towards Mumbai.
"We are trying to find out their intention," Darade said.
The three men have been identified as Salman Amanulla Khan (19), Badari Juman Badshah (27), residents of Sewri in Mumbai, and Nagesh Bansode (23), a resident of Nashik.
Describing the events leading to the arrests, Darade said the police intercepted the vehicle early today at Chandwad toll booth and seized 25 rifles, 19 revolvers and more than 4,000 live cartridges after the owner of a nearby petrol pump alerted them.
The owner told the police that the three men got petrol filled in the vehicle at gunpoint before fleeing, the official said.
"As soon as the police were alerted, a security cordon was put on Mumbai-Agra highway and the vehicle was intercepted at Chandwad toll booth," he said.
"During interrogation, it came to light that the firearms and the ammunition had been stoled from a gunshop in Banda district in Uttar Pradesh. The arms and ammunition were being transported to Mumbai from Malegaon in Nashik district," Darade said.
All the accused were produced before a local court, which sent them into police custody till December 28.
When contacted, an official of the Uttar Pradesh Police department said a case of robbery was registered at the Banda police station yesterday in connection with the robbery at Punjab Armoury (Sardar Gun House).
"The robbers had broken the locks of the shop with gas cutter. The group thrashed a guard and tied his hands and legs. They also gagged him with an adhesive tape before looting the arms and ammunition," the official said.
The robbery was caught by a CCTV camera, he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)