The accused identified as Gaurav Kumar alias Rahul, his girlfriend and associate Rohit alias Monty were arrested by the staff of south district police.
Rs 1,65,000 and a car used in crime were also recovered from them.
One complainant visited Vasant Kunj and reported that on April 7 his friend Varun Gandhi from Jalandhar came to Delhi and left to meet one woman with whom he came in contact through the social media.
"Later on, the complainant received a call on his mobile wherein the caller threatened and demanded Rs 5 lakh and asked to deliver the same at IFFCO Chowk, Gurgaon for the safe release of his friend.
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"Based on the complainant's statement, a case was registered and investigation was taken up," said DCP (South) Prem Nath.
When the complainant contacted the accused, they asked him to come at Shiv Murti on NH-8 in Delhi.
"Thereafter, the accused asked the complainant to meet at foot over bridge, NH-8, Dhaula Kuan.
The police team along with the complainant immediately reached the spot and apprehended Gaurav Kumar and his girlfriend," he added.
After their arrest, their associates released the complainant's friend from Dwarka and escaped.
During interrogation, it came to the fore that Gaurav Kumar along with his girlfriend used to extort money from innocent persons by laying honey traps in association with their female group.
When he reached the flat, other members caught him and threatened to implicate him in a rape case.
His girlfriend finalised a deal and asked him to arrange for Rs 5 lakh for safe release.