The arrested have been identified as Lakhinder Rai (23) and Sunil Hembram (27) and one pistol, two live cartridges, three mobile phones, one motorcycle and Maoists' letter pad were recovered from their possession, said Superintendent of Police Anup T Mathew.
Addressing a press conference here, Mathew said the arrested criminals had threatened one Arjun Gupta, who was a manager of a construction company engaged in construction of six km road between Lori Pahar and Maluti at a cost of Rs 17 crore, of dire consequences and demanded a ransom of Rs 20 lakh.
The company officials had lodged an FIR in this regard on April 5.
Referring to a Maoist-criminal nexus, Mathew said the letter pad of the Maoists' recovered from the duo was given to by one senior Maoist operative Badri Rai to extract money from the contractors and businessmen to bear their expenses.
Mathew said the Maoists have been weakened in the area and were now joining hands with criminals.