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The businessman, who earlier resided in Bengaluru, used to run chit fund business and did not repay the amount of Rs 5 lakh invested by two friends of the arrested men even after completion of the chit period, RachakondaPolice Commissioner Mahesh M Bhagwat said in a release.
Then he shifted to Hyderabad and on one pretext or the other was evading to return the amount, the release said.
The six men then hatched a plan to kidnap him for recovery of the amount and abducted him on December 15 afternoon, it said.
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Based on a complaint from the businessman’s wife, a police team identified the six men and nabbed all of them from Bengaluru by 2 pm on December 16.
The businessman was rescued and all of them were brought to Hyderabad, the release added.