Yes! With the help of some loopholes present in SMS technology, anyone can send SMS using any number as the sender id of the SMS, and importantly without the knowledge of the original mobile holder. As a proof you can check out the video, the guy demonstrating this trick on Zee news is the editor in chief of MOBILE GYAAN. The worst part of this loophole is that, any one having basic knowledge about internet and computers can misuse this loophole once got access to some service providers.
So beware! next time when you receive a distress SMS, make yourself sure that it is received from the right person. If possible report it, it may help some one else too..