Police also seized an Innova car and Rs 7.34 lakh in cash from Utakam Deepak and Kodari Raju, said SP (Urban) A Venkateshwar Rao.
The duo, along with Nagelli Santosh and Vadlakonda Hareen, had allegedly abducted Dr Surender Reddy in August and demanded ransom of Rs 50 lakh for his release.
According to SP, they released the victim on August 21 in Kakatiya University area after collecting Rs 21 lakh from his family members.
Based on the sketches of the accused, prepared as per the description given by Dr Reddy, a team led by Inspector Devender Reddy nabbed Deepak and Raju from Waddepally area last night.
However, Santosh and Hareen continue to be at large.