"We have arrested one woman, Priya Sharma, 29, who was operating the racket and supplying the girls for Rs 100,000. Three other associates - Avesh, Vinay and Kuldeep, based in New Delhi - are absconding and we are on the lookout for them," said Social Service Branch Inspector Sandesh Revale.
According to police, Sharma operates a travel agency, Vinayak Vacations & Holidays in Kandivali east, and under its guise was involved in such immoral activities among other things.
Among those rescued were two junior artistes, one of whom has worked in the reality show, "Savdhaan India", while the minor has also worked in a web series and did bit roles in a Marathi tele-serial.
The raid was carried out at Dragonfly Hotel in Andheri east with the help of a decoy customer who solicited for the women from Sharma when the SSB team entered and caught her red-handed.
This is the second such racket cracked by the SSB in the past two days, sending shockwaves through the glamour industry.
On Wednesday, the SSB nabbed a smalltime Bollywood casting director Navinkumar P. Arya, 32, for running a sex racket and rescued two junior artistes.
Police are on the lookout for his two associates - Vijay and Ajay Sharma - who are absconding and may hold the key to the actual ramifications of the sex racket in which the girls were supplied for Rs 60,000.
The tentacles of the racket are believed to involve prominent personalities in the film industry, glamour world and even corporates, besides many high-end customers in Mumbai, New Delhi and Kolkata.
( With inputs from IANS )