Hyderabad: A city-based automobile financier Gajendra Prasad who was allegedly kidnapped by some unidentified persons on Sunday night from Domalguda was released on Abids main road in Hyderabad on Monday morning.

As per the statements given by the Domalguda-based financier, who claimed that he was kidnapped by unknown people on Sunday from Chikkadpally. He said the kidnappers had called his family members and demanded a ransom amount of Rs 3 crore. However after bargaining they agreed for Rs One crore and after they paid the ransom amount he was dropped off near Abids.

Based on the complaint lodged by the Gajendra Prasad, the police registered a case and efforts are on to nab the kidnappers. Meanwhile, the police came to know that he had conflicts in business dealings with Mumbai-based businessman and that he had committed fraud to an amount of Rs 24 crore under the name of Fortune Finance. Upon further investigation they got know that his brother was earlier arrested by the Mumbai police in fraud case, leading to suspicion whether he was really kidnapped or if this was a drama staged by the businessperson.

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