Senior police inspector M K Patil of the Manpada police station told PTI today that the trio allegedly made special tracks in Gesargaon village and organised the races on May 28.
Names of those arrested were given as Ram Pundalik Patil, Laxman Janu Gaikar and Kisan Jairam Patil, who are all Gesargaon residents.
Two others who were also party to the races, namely Suresh Arjun Fulore and Sanjay Krishna Mhatre are at large, for whom the police has launched a manhunt.