Acting on a tip-off, police raided the party at Maya lounge and bar in the early hours of Sunday and arrested 300 men and women, mostly in their 20s, partying there and four organisers for holding a party without a valid liquor permit.
Alcohol worth Rs 9.8 lakh was also seized from the place, police said.
Later, the 300 party-goers were let off on bail after their blood samples were collected for testing, police said.
Pune SP (rural) Manoj Lohiya said based on the complaints of the residents in the vicinity that loud music was being played and liquor served at a party late in the night, police raided the Maya lounge and bar.
"The event organisers had permission to party till 11 PM, but as the party went on late in night...We raided it. We found at least 300 people dancing to loud music and most of them were under the influence of alcohol," a police officer said.