The students, accused of ragging first year students in the hostel attached to the polytechnic, were booked early this month, they said.
They have also been suspended from the institution at Nattakom.
In two separate complaints lodged with police, two students have alleged that they were subjected to brutal ragging by the senior students of the institute.
While one student is undergoing treatment at a hospital in Thrissur, another is admitted in a private hospital in Eranakulam, police said.
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The victims have alleged that they were forced to do intense physical exercises like push-ups for about six hours and even drink liquor.
Meanwhile, the state human rights commission has sought a report from the education department on the alleged ragging incident.
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