Man arrested for abducting businessman

A man has been arrested for allegedly abducting a businessman and demanding a ransom of Rs 1 crore from his family, police said 

on Sunday.

Dinesh, who runs a factory of plastic coating wires at Friends Colony, was nabbed on Thursday for kidnapping Alok Jain (21) who supplied plastic pallets to factories including that of the accused. 

Dinesh plotted the crime as he was in huge debt after his business suffered losses. He was required to pay Rs 7.5 lakh to Jain for the raw material he had bought.

Unable to pay the money, he kidnapped Jain, police said. Jain was rescued on Thursday from a second floor flat in Krishna Nagar in east Delhi where he was kept in captivity, said police.