Three people, including two office boys from a franchise of a well-known company, have been arrested for allegedly withdrawing Rs 1 crore by using fake identities and forged signatures on cheques and company letterhead.

The Malad police had received a written complaint from Sanjay Shah, director of Real Value Leasing Pvt Ltd — a franchise of Anchor Group of Companies — to conduct investigations after he noticed that someone had withdrawn R1 crore from the company’s account on November 9 last year. The owner had submitted the letter on November 24.