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UCT’s spokesperson, Pat Lucas, confirmed that Ilan was arrested with 29 other protesting students.
Another student from a well-known family, ANC stalwart Frank Chikana's son, Kgotsi, was also arrested.
Those arrested will be facing charges of trespassing and public violence, national police spokesperson Vishnu Naidoo said.
As the students were being processed at the Cape Town Central Police Station, another group of students gathered at the Western Cape High Court to file an urgent interdict against the police, late Wednesday evening.
Student representatives from the Legal Resource Centre (LRC) were seeking an interdict preventing the police from "using force to disperse assembled and gathered peacefully and unarmed students".
LRC tweeted: "SAPS legal representation has arrived and deliberations are taking place."
The matter has since been postponed to Thursday.
In a statement, Naidoo said that the police were satisfied how they handled the situation outside Parliament, given constant provocation by the students.
"Further criminal action against those that may have transgressed the law will be considered," he added.
Earlier police fired stun grenades and tear gas at protesting students who had forced their way into the parliamentary precinct as Finance Minister Nhlanhla Nene delivered his mid-term budget speech.
Since last week Wednesday, students across the country have been protesting against escalating fee hikes.