The body of Sanjay (18), who had been kidnapped for Rs 50 lakh ransom, was found near Varuna canal about 25 kms away from the city, police said.
The boy was the eldest of three sons of a jeweller, police said.
Sanjay was kidnapped on December 12 and the abductors had placed a demand for Rs 50 lakh ransom for his release. His father Taranath had lodged a complaint with Vijayanagar police in this connection.
Police said they had made all efforts to rescue the boy, but did not succeed.
