"We arrested Ashwini Devan, the principal, yesterday under IPC sections 325 (voluntarily causing grievous hurt), 337 (act endangering life or personal safety of another person) and 506 (criminal intimidation)," said a senior official.
Mr Devan was later released on bail, he said.
On November 24, Mr Dewan allegedly asked eight students of Class 8th at the privately-run Shri Bhavashwari Sandesh Vidyalay in Kanoor Budrook village of Chandgad tehsil to do 500 sit ups for not doing the project work that was assigned to them.
One of the girls, who is 13, fell ill while doing the sit ups and was hospitalised.
On December 10, a police complaint was filed against the principal.
Following the incident, the principal was sent on compulsory leave by the school management, the police official said.