"We have rescued the traders after a brief gun battle with the abductors at Darekgre village under Dadengre Sub-Division killing one of the abductors," Inspector General of Police G H P Raju told PTI.
The four traders, who were brothers, were abducted by militants at gun point from a place near Kantanagre area in the district at around 7 AM yesterday.
Acting on a tip off, state police's Swift Weapons and Tactics (SWAT) commandos raided the village where the traders -- Gulu Sheikh, Shah Alom, Ajgar Ali and Musaddar Ali Azgar -- were kept.
Police recovered an AK series riffle and two magazines along with one 7.65mm pistol from the possession of the slain militant.
However, the other member of the kidnapping gang managed to escape.
Police sources said the outlawed Garo National Liberation Army (GNLA) and the Assam-based ULFA jointly carried out the abduction with an intention to get a hefty ransom from the family of the businessmen.
The group was active in the plain areas of Garo Hills region like Dadengre, Phulbari and Tikrikilla.
As many as 111 abductions had taken place in the last five years in the Garo Hills region, the sources said.
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