The companies had filed a robbery case last month after one of their employees made away with the currency collected from the two firms, said DCP Zone-VIII Virendra Mishra.
The accused were arrested yesterday from Mumbai Central, said the official.
Bhagwant Singh (23), who worked for a firm in Vile Parle, had allegedly escaped with Rs 1.5 crore collected from the two firms, the DCP said.
During investigations, it came to light that Singh had committed the crime, along with his two friends -- Jaswant Singh (26) and Gautam Lakhani (21), he said.
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Police teams were formed and sent to various states to nab them, he said.
"We got information that the accused purchased a new vehicle with the robbed money and were coming to Mumbai to exchange the currency. Following which, a trap was laid and they were arrested from Mumbai Central yesterday," another senior official said.
Police have recovered about Rs 1 crore of the robbed currency and seized the SUV, he added.
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