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The main accused Danish, a native of Maharashtra and the victim Mohammed Shakir, a Kundapur were business partners.
Owing to a financial dispute between the two, Danish is alleged to have made death threats to Shakir on earlier occasion.
On Saturday, March 20 Danish called Shakir to meet him at a hotel in order to resolve the financial dispute them in a peaceful manner. However when Shakir was on his way for the meeting, Danish along with three of his accomplices waylaid his car. While Shakir fled from the spot, the accused began chasing him.
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During the questioning, it was revealed that the accused planned to kidnap and murder Shakir.
Kundapur police registered a case.