Yesterday, the accused - Umesh Bhagwat - abducted the boy from outside his school in suburban Ghatkopar area, a police official said.
Bhagwat, who was unemployed, was roaming in Ghatkopar area when he saw two children fighting outside the school. He interfered and abducted one of the boy by offering him a chocolate. Subsequently, he demanded a ransom of Rs 2 lakh from his father, an auto-rickshaw driver, police said.
A complaint was lodged by the victim's father following which a trap was laid at few places in Ghatkopar and Vidyavihar, said Venkat Patil, senior inspector of Ghatkopar police station.
A case under relevant sections of IPC was registered and investigations are underway, they added.