Ajay Kumar (28) and Vinod Kumar (26), both allegedly involved in bootlegging cases, were apprehended and the businessman Nand Lal was rescued, B S Jaiswal, Deputy Commissioner of Police (Outer), said.
Lal, who owns a drycleaning shop, was abducted on Sunday night and his family had received a ransom call for Rs two lakh. They initially paid around Rs 60,000.
"As Lal's brothers could not arrange the money, Lal's wife Manju gave her jewellery as part of ransom to get her husband's release," Jaiswal said.
Police were waiting for the release of Lal to catch the accused. A police team intercepted the vehicle in which Lal was brought and the duo were arrested.
Ajay, a Class XII passout, is a bootlegger with five previous criminal involvements, while Vinod, a graduate, is a liquor supplier and was earlier involved in one crime.