The city police today rescued a 26-year-old man, son of a Surat-based businessman, and arrested three persons who had abducted him.
Deepak Mukeshbhai Kukadia, the victim, had been abducted from Tapovan Road locality here on August 11.
Police arrested Lalit B Patel (36), Dinesh Patel (39), and Sandip Patel (42), all local residents, under section 363 (kidnapping) and other relevant sections of the IPC.
Somnath Tambe, in-charge of Bhadrakali police station, said that search for some other accused was on.
According to the police, nine to ten persons from Nashik (including the arrested accused) had invested money with Deepak's father Mukeshbhai Kukadia. He could not return the money due to some setbacks in the business.
These investors then allegedly hatched the plan to kidnap Deepak and demand Rs 3 crore from his father.
After they called Mukeshbhai, he approached the Bhadrakali police, who traced location of the caller and arrested three of the accused at ABB Circle on Trimbakeshwar Road here this morning and rescued Deepak.
DCP Laxmikant Patil had appointed Hanumant Ware as investigation officer of the case, Tambe said.
A local court granted the police three days' custody of the arrested trio.
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