According to police, a motorbike owner first spotted two 17-year-old boys stealing his bike and alerted the public, who nabbed them before they could speed away and handed them over to police.
Their questioning led to the arrest of the third boy who had also stolen a motorbike.
All of them reportedly told police they had resorted to stealing new bikes as their parents had refused to give them money to participate in bike races.
Those arrested are the grandsons of a former High Court Judge, chairman of a private medical university and of a former army officer, police said, but declined to divulge further details.
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