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Through close monitoring of the footage, two suspected persons were identified, said Sumit Thakur, Chief PRO, Western Railway.
A 28-year-old man wanted for over five years in over 20 chain snatching cases was arrested by the Manpada police in Dombivli.
The police had been on the lookout for the accused for the last five years, he said.
The police said the arrested accused are identified as Vikesh Tiwari and Manoj Kumar Thakur are both the residents of Dombivli.
The suspects allegedly fired at the police forcing retaliatory gunfire. One suspect was killed while another was arrested, several weapons were seized.