Sudipto Mukherjee, general manager of Kolkata-based Purushottam Homeo Vikash Company, was abducted from village Sardarpur on G T Road (NH 2) on the night of December 27 when he and his company's managing director Trinath Chatterjee were proceeding to Varanasi on business assignment, Superintendent of Police Bhimsen Tuti said.
An FIR was registered in this connection under Chauparan Police station of Hazaribagh.
Tuti said a police team led by Awadhesh Kumar Singh (Barhi Circle) and Sudama Singh, Officer-In-Charge of Chouparan police station, conducted raid in the house of Bhola Pandey in Ormanjhi police station area of Ranchi and rescued Mukherjee yesterday.
Police have also arrested two alleged kidnappers Chandan Kumar Sao of Jamui and Kundan Kumar Mandal of Baijanpur Thana of Kharagpur in Munger in Bihar.
The kidnappers had demanded ransom of Rs 50 lakhs for his release, Tuti said.
Giving details of the incident, police said Chatterjee and Mukherjee were proceeding to Varanasi from Kolkata in an SUV which met with an accident with a truck near village Sardarpur.
As the car was damaged the duo asked their office in Kolkata to send another vehicle for the onward journey and went to a dhaba in village Sardarpur to have meal and take rest, the police said.
The duo later came across some people, numbering about six, who offered them liquor at the dhaba. Mukherjee then approached a nearby paan shop to purchase cigarette when he was forcibly lifted in another SUV waiting few yards away and driven away.