The police also arrested Rajesh Kumar, the executive producer of FUEL - the production company that was shooting the commercial, and Ajay Sharma, from a Jaipur-based entertainment company.
Police say they had forged the police permission and e-mailed it to the aviation company saying the local authorities had given clearance for landing.
Saif Ali Khan was present at the hotel at the time the helicopter was seized.
The advertisement was meant to be for the clothing brand Siyaram's.
Saif was supposed to play a prince who wants to wish his mother on her birthday by calling for a helicopter at his palace.