According to police, Yogesh alias Babu Yadav was absconding since September 24.
Kavi Nagar SHO Ashok Shishodia said that a trader based in Shastri Nagar, one Anil Mittal, was kidnapped by four persons on September 24 from near Diamond Palace fly-over in the Kavi Nagar area.
The abductors allegedly bundled Mittal into a sack and threatened to throw him into Gang-Nehar unless he paid ransom of Rs 50 lakh. It was only after Mittal promised to pay the ransom amount that they left him near his home.
Shisodia claimed he had earlier paid a 'rangdari' amount of Rs 7 lakh to Yogesh and alleged that the accused would collect a monthly payment from him.
Kavi Nagar police said they will apply before the CJM court for obtaining police remand of Yogesh.