Sahid, Zakir and Nadeem were last night arrested from Sector 39, they said.
The accused were transporting the animals in a truck and were intercepted on a tip-off, police said.
The calves have been sent to an animal hospital here.
On interrogation, the accused said they were taking the calves from Haryana to Uttar Pradesh for slaughtering.
Meanwhile, in a similar incident also reported last night, two bulls were seized from the Sector 11 area, police said.
Some men were trying to load the bulls to a vehicle to take them to slaughter house, they said, adding that the men ran away on seeing the policemen.