Pappu Sharma was admitted to Sawai Man Singh Hospital of Jaipur, where his condition was stated as serious but out of danger, station officer Sapotra, Murari Lal Meena said today.
The main accused Hari Gothiya has been arrested and a search hunt launched to nab the seven others named in the case, he said.
One Rekh Singh Meena called Sharma to his residence last evening for a discussion, he said.
Rekh and his seven accomplices, including Gothiya, pressurised Sharma to return Rs 25,000, which they claimed, he had borrowed from him, the police officer said.
According to the complaint, when Sharma refused to pay the amount, as the victim maintained that he had never borrowed it, Rekh and others forced him to sign a land deed immediately.
In the complaint, Sharma alleged that for past some time Rekh had been building pressure on him to grab the possession of his land.
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Amid the heated dispute, Gothiya attacked Sharma with an axe and chopped both his hands, the police official said adding, "They locked Sharma inside the house and escaped."
Sharma was rescued by his mother who reached Rekh's residence while searching for him. "Sharma's mother along with other villagers rushed him to district hospital, from where he was taken to Jaipur's Sawai Man Singh Hospital," he said.
Gothiya is being questioned about the axe used in the crime and the victim's severed arms as he had taken both along with him while leaving Rekh's residence, he said.
A case under relevant sections of IPC has been registered against eight accused, the police official said.