The Indian consulate is now in contact with the Iranian officials to ascertain further details.
The three sailors Anil Negi (22), Rakesh Lingayat (29) and Arvind Singh (24) went missing on December 27 when their cargo ship, Dheema, sank in rough seas off the coast of Ajman.
While two other sailors were rescued by the Dubai Ports Police and the body of another was found soon after the incident, there has been no trace of the trio since then, a report in The National newspaper said.
"It is possible that Iranian authorities have them. The incident happened close to Bandar Abbas. I am trying my best to find out any information from anybody about their whereabouts. I am glad our government is trying to help find our children," Anil's father Mangal Singh Negi was quoted as saying by the newspaper.
A consulate official in Bandar Abbas confirmed to the newspaper that the mission is in touch with Iranian authorities.
When it began to sink, the crew jumped together, taking life jackets and flotation rings.
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