The victim, based in Gurgaon, came into contact with the girl identified as Usha Gurjar last year in Rohtak and befriended her.
"The man came to Jaipur on August 8 and stayed in a room where the girl visited him. The girl stayed with the man during the night and next morning demanded Rs 25 lakh, threatening to tarnish his image," DCP North Anshuman Bhomia said.
He arranged the money and gave it to her. The accused girl also signed an affidavit that she will not blackmail him in future.
"She was caught by a police team yesterday when she met the man at Narainsingh circle and placed under arrest. The man gave her Rs 2 lakh yesterday and the police team caught her when she was counting the notes inside the car of the victim," Bhomia said.
The girl stays at a PG hostel in Lalkothi area and is a first-year college student.
"Rs 27 lakh have been recovered from her hostel room," he said, adding, that she was being interrogated.