3 held for kidnap, release of financier after taking Rs 1 cr

: A day after a 40-year-old automobile financier was kidnapped and released for a ransom of Rs 1 crore, the city police have arrested three of the abductors while two more are at large.

Cash totalling Rs 35.30 lakh and two cars were seized from the accused, the police said Tuesday.

The victim was abducted in a car when he went to meet his friends. The kidnappers threatened to kill him if he did not part with Rs 3 crore, and beat him up badly.

The financier bargained with them and he called one of his friends for arranging the money and after handing over Rs 1 crore, the accused released him. Later, he lodged a police complaint.

The prime accused in the case was into second-hand car-selling, and he planned the kidnapping of the financier for ransom and took the help of the other accused to carry out the plan.

The kidnappers initially demanded Rs 3 crore and then agreed to accept Rs 1 crore, which they had distributed among themselves.