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The Anti Extortion Cell (AEC) of the Crime Branch arrested the 25-year-old accused, who had identified himself as ”Billo”, from suburban Oshiwara on Tuesday, he said.
The accused allegedly called the businessman, who runs a chain of bakery shops in the city, many times between July 13 and 19, claiming to be an aide of Shakeel and demanding Rs 35 lakh.
If the businessman did not pay up by Tuesday, he would shoot him, the accused told him.
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Further probe was on, the official said.