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The arrested accused has been identified as GK Venkatesh, a former corporator of Yeshavantpur ward.
A contractor named Chandru had filed a complaint at the Yeshwatpur Police station that he was abducted by Venkatesh.
According to the complainant, Venkatesh was furious that he had lost a contract for works in Yeshwantpur Ward that was bagged by Chandru. Venkatesh had reportedly demanded Chadru to pay for the financial loss he had suffered due to it.
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The complainant alleged that he was assaulted and was let go only after writing them a cheque for Rs 3 crore.