Police today rescued a businessman and arrested four persons from Yadgiri district of the neighbouring Karnataka state who had abducted him from Moinabad area here over a business dispute.
Syed Kaleemullah Waseem, who runs a shipping scrap business, was rescued within hours of his abduction from his house this morning, police said.
The accused were identified as Mohammed Saleem, a scrap businessman, Mohammed Javeed, Mohammed Faqruddin and Berain Kumar.
Saleem and Javeed had a financial dispute with the victim; they had allegedly paid him Rs 50 lakh for supply of scrap metal.
He allegedly failed to supply it, and demanded another Rs 50 lakh. The accused then filed a case with the Central Crime Station (CCS) here which is under investigation, police said.
"The accused were vexed with Kaleemuddin's attitude, and they decided to abduct him to put a fear of life into him and recover their money," said the release.
