Financier 'kidnapped and freed' after paying Rs 1 crore

: A 40-year-old man, working as an automobile financier, has complained to the police here that he was allegedly kidnapped by a gang and released after paying up Rs 1 crore, police said on Monday.

The victim suffered injuries after being hit by the abductors, the police said.

According to the complainant, some people on Sunday forcibly took him away in a car to an undisclosed location and demanded Rs 3 crore for his release, but he told them that he cannot give that much, they said.

The victim was beaten up by the gang and he said he could give Rs 5 lakh or Rs 10 lakh, which the kidnappers refused.

Later he said he could give them Rs 50 lakh, but that did not cut ice. Finally the gang agreed for Rs one crore, and the victim called up his friend to bring the money, a police official said.

Accordingly, his friend brought the amount and kept the cash in a car parked near a school after which two people came and took the cash away, the official said.

Following this, the businessman was set free. He had injury marks on his body and his face was bruised, the police said, adding that the victim has been hospitalised.

Based on preliminary investigation, police said the businessman has a brother, who is also into automobile finance and was recently arrested by the Maharashtra police following a complaint by a Mumbai-based finance firm with which the brothers reportedly had disputes.

Based on a complaint, a case of kidnapping and dacoity under relevant IPC sections was registered, the police said adding that special teams have been formed to trace the culprits.