Nikhil Saxena alias Chintu was arrested yesterday and a country-made pistol along with cartridges recovered from his possession, they said.
The businessman, identified as Naveen Kumar Jain, lodged a complaint that on July 16 a letter threatening and demanding a ransom of Rs five lakh was found in his medicine shop, police said.
When Jain called on a mobile number given in the letter, the accused threatened to kidnap his sons if failed to pay the amount in two days, they said.
During interrogation, Chintu confessed that besides sending the letter, he also went to Jain's shop on July 20 and threatened to kidnap his sons - Minkoo and Nishant, police said.
Station Officer of Kotwali police station, Zamil Mohammad Rawat said Chintu has been to jail in a case of dacoity in 2014.
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