Television serial director Vijul Dwivedi (35) and four others were arrested for allegedly trying to encash fake bank drafts of Rs 46.35 crore.
The police said Dwivedi plotted with television actor Rajesh Singh (35) and three other people.
The police arrested them on a tip-off that the five were to meet at a Thane hotel with bogus demand drafts, said Additional Commissioner of Police (crime) Prashant Burde.
“They said they were to meet a banker who would help them clear the drafts,” said Burde.
“We have information about discount agents who give instant funds against cheques. It is likely the agents encashed drafts too,” said Burde.
Dwivedi has worked as an assistant to Bollywood director Sanjay Gupta, the police said while Singh, a Goregaon
resident, had acted in a few roles.
Dwivedi, a struggling director, needed funds to make his film. Two others who helped make the drafts are still to be arrested.