Police said V Chattopadhayay of Indirapuram Ghaziabad resident, a CEO of a software company at Sector 63, had received extortion calls from different mobile phone numbers from October 18 to 22.
Chattopadhayay had told police that the caller demanded Rs 20 lakh and threatened to kill him if he failed to pay the amount.
After investigations, police today arrested Ram Tilak Yadav and recovered the SIM cards used to call the firm CEO.
Interrogation revealed he was the driver of CEO's neighbour at a society complex.
Police have launched a manhunt for Suraj.
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