The CID, which made the arrests, said the scam was spread across multiple cities in the country and police have identified involvement of about a dozen persons in this regard.
"Our teams are currently investigating the case in various cities including Mumbai and Gurgaon. Very soon we may come out with some more results," Additional Director General of Police (CID), T Krishna Prasad told reporters.
He said the middlemen collected up to Rs 10 lakh as advance from students promising them question paper for the exam and the answer key.
The arrested brokers had business links even though they separately ran their educational consultancy services in Hyderabad, the ADG said.
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Those who paid hefty sums in advance were provided accommodation at various locations and also coaching based on the leaked question paper and key.
The MET was held on March 2.
"These students secured ranks ranging from 2 to 25 in the medical PG entrance exam. Under management quota these seats are usually sold at Rs 75 lakh to Rs 1.5 crore," Krishna Prasad said, adding that investigations are still on in the case.