Hyderabad police on Saturday arrested nine individuals in connection with the alleged kidnapping of a jewellery businessman and the extortion of Rs 1.30 crore from his family.
Investigators stated that the group initially demanded Rs 15 crore from the businessman's relatives. Two other suspects in the case remain at large.
From those arrested, police recovered Rs 1.07 crore in cash, approximately 67 grams of gold jewellery, and silver items. Five vehicles and nine mobile phones were also seized.
Police indicated that one of the absconding individuals is believed to be a co-conspirator in the crime. Efforts are ongoing to locate and apprehend them.