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The boy has been rescued by the police, they said.
According to the police, the boy, who is the son of a scrap dealer, was kidnapped by three persons on Tuesday morning from Tathawade area of the adjoining Pimpri-Chinchwad township.
”On receiving a complaint from the family, a team was formed and during investigation, it was revealed the kidnappers had taken the boy to Saswad. The kidnappers earlier called a relative of the boy and demanded Rs 30 lakh and threatened to kill him if the ransom money was not paid,” an official from the Pimpri-Chinchwad crime branch said.
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The accused were identified by the police as Tejan Lokhande, Arjun Rathod, and Vikas Mhaske.
The trio knew that the boy’s father was financially well-off and targeted him for quick money, the police said.
”The accused wanted to open a hotel and for that they needed money. This led them to plan the kidnapping,” another police official said.