Mohammed Rehan (23), a resident of South Delhi's Jamia Nagar, was on his way to his institute in his car on Monday when he was kidnapped by unidentified persons.
Soon after he went missing, his father, who is an engineer in a government office, received a call from Rehan's mobile phone by an unknown person demanding Rs 1 crore as ransom.
However, at around 6.30 A.M today, the kidnappers left Rehan near ISBT Sarai Kale Khan from where he returned home on an autorickshaw.
Rehan told police that he was kept blindfolded by his kidnappers who also tied up his hands and legs.
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"The kidnappers initially demanded Rs 1 crore as ransom... but the deal was struck at Rs 39 lakh. Thirty police teams were formed to nab the kidnappers as their mobile phone locations were scattered.
"They were making calls from Faridabad, Dadri station, Modi Nagar, Meerut, Ghaziabad, Badarpur and Greater Noida. Raids were conducted but they managed to give the cops the slip," said a police official.
Police remained tight-lipped about whether any ransom was paid to secure Rehan's release but said they were probing the case from all angles.