As per the complaint filed by the dealer, whose identity has been withheld, he was forcefully put into a four-wheeler by six persons on gun-point on July 23, Thane police Public Relations Officer Sukhada Narkar said.
According to the complaint lodged this morning, the abductors also snatched from the dealer Rs 2 lakh cash, his mobile phone and gold jewellery.
Later, he was taken to a room in Khanivali and the abductors demanded Rs 10 crore as ransom and threatened him of dire consequences if he failed to give the amount, the officer said.
A case under relevant sections of IPC and the Arms Act was registered, police said, adding investigations are underway.