This would be interesting to see (or read), but Kaito is (morally) similar to Cat-woman in some ways and beyond seeing him as a really crafty thief, Batman would have no reason for a punch-out with The Kid.
And as for a surprise grab from the back? The manga gives me the impression that Kaito is usually aware of his surroundings, so unless he was really distracted, the Bat would not be able to surprise him.
Alternatively, since the Bat has a reputation of working outside the bounds of the law, he has a much better chance of catching the Kid than the police.
-chronodekar