Officers from the Metropolitan Police were called at 11.12am this morning (March 30) with reports of an incident in Shelbourne Road.
Several emergency service vehicles were dispatched to the scene at the junction with Lansdowne Road.
A man in his 50s was found in possession of a knife and a chisel, and officers had to use a taser to detain him.
He was arrested on suspicion of possession of a bladed or pointed article.
A second man in his 40s was also arrested at the scene on suspicion of affray.
They have been taken into custody.
A Met spokesperson said: “Police were called at 11:12hrs on Sunday, 30 March to reports of an altercation involving a man with a knife in Shelbourne Road, junction with Lansdowne Road, N17.
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“Officers attended and used Taser to detain a man in his 50s armed with a knife and a chisel. He was arrested on suspicion of possession of a bladed/pointed article.
“A second man, aged in his 40s, was arrested on suspicion of affray.
“The men have been taken into custody.”