Basu, 50, India head of French multinational engineering group Alstom SA, was kidnapped along with his driver on Friday and was rescued from Meerut yesterday.
"Trader Akhand Pratap Singh was arrested from Noida Sector 58 today. Probe revealed that he was the mastermind of the kidnapping," Senior Superintendent of Police, Preetinder Singh, said.
"Singh, along with his driver Naresh, had planned the kidnapping and Naresh executed the plan and took Basu to Meerut bungalow," the officer said.
Singh's driver Naresh and two other Noida-based persons - Sanju and Narendra- were arrested yesterday after an encounter.
More From This Section
"Initially, we thought trader's servant may have done it alone as the trader was not living at the Meerut bunglow and keys were with the servant. He has showroom at Sector 18 and was living at Noida with his family," said Singh.
"But call details of the trader and his servant revealed that both were in touch and Naresh made several calls before and after the kidnapping. Basu too had told police that kidnappers were constantly in touch with someone," said Singh.
"Basu's family members and colleagues had suspected foul play when he spoke in Hindi and immediately informed police without delay," the officer said.
"Had there been a delay in reporting the matter to police, the kidnappers could have taken him to some untraceable place. Their plan was to demand the ransom for his release," said Singh.
Basu was kidnapped along with his driver, Ram Babu, from Noida's Sector 66 on Friday evening.
He had left his Sector 71 office and was heading for home.