Lovejeet was kidnapped on Saturday.
"More than 300 police officials, headed by Superintendent of Police Manmohan Singh were deputed to carry out the search operation which ended in vain today when body of the kid was found," Senior Superintendent of Police Manminder Singh said.
Surkit Kumar, uncle of the boy, had hatched the conspiracy for ransom, the SSP said, adding that he has been arrested.
One of the kidnappers, identified as Lakhwinder Singh had demanded Rs 12 lakh as ransom through phone from father of the boy, he said.
Singh was yet to be arrested.
Lovejeet, an eighth class student, was kidnapped on Saturday while he was going to school on his bicycle. PTI CORR PL
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