The woman was threatened by an unidentified caller, who demanded the sum, failing which he would upload her personal pictures on the social media, said Thane Police spokesperson Sukhada Narkar.
The woman received the ransom call after a pendrive containing the pictures was delivered to her via a parcel service, earlier.
The victim immediately approached the Rabodi police and lodged a complaint. Police swung into action and launched a manhunt for the miscreant.
Police also seized a laptop, pendrive and mobile phone from the arrested person.
However, cops refused to divulge the name of the victim and the arrested accused, which they say is a son of a Mumbai businessman.
The accused was in debts and resorted to such measures to get money, police added.
The Rabodi Police registered an offence under sections 485 of IPC and also sections 43(B) and 66 of the IT Act, police said.
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