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The boy, Anubhav, is the grandson of Ujire-based businessman AK Shivan.
Anubhav was said to be playing in front of his house when he was abducted. Later a ransom call was made to Anubhav’s mother.
The abductors have demanded 100 Bitcoins as ransom, the present value of which is Rs 17 crore.
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Police traced the mobile phone signal from which the ransom call was made and informed that it was found to be at Hassan and later crossing Alooru.
The police inquiry of the children playing in the ground near the house has revealed that the car had been roaming around the locality from the past week.
A team led by Bantwal DySP Valentine D’Souza and comprising Belthangady Circle Inspector Sandesh PG, Sub Inspector Nandakumar, Dharmasthala Station Sub Inspector Pawan Kumar has been formed to intensify the search.