The model was later granted bail.
Sharma was driving her Maruti SX4 car at a "very high speed" in Lokhandwala area in suburbs at about 1 AM and lost control over her vehicle and rammed it into a moving Honda City car, a motorcycle and a parked auto-rickshaw, they said.
A couple travelling in the Honda City car suffered minor injures, police said, adding that she was arrested immediately and later granted bail after furnishing a personal bond of Rs 10,000.
Her blood sample was sent for medical examination and the report suggested that she was not under the influence of alcohol, police.