The 20-year-old son of a local jeweller was allegedly kidnapped from the outskirts of the town on Thursday evening.
The identity of the victim has been withheld on the request of victim's kin citing security reasons.
According to details, the victim had gone to his family's farmhouse on Thursday evening and did not return. The matter came to light when his family members received a ransom call of Rs 5 crore from the kidnappers.
Thereafter, the family informed the police. Police found the victim's car abandoned near the farmhouse. On Friday morning, a group of family members led by victim's maternal uncle reached chief minister Bhupinder Singh Hooda Model Town residence and threatened to commit suicide, if victim was not restored within 24 hours. Meanwhile, protesters raised slogans on the deteriorating law and order situation in the Hooda's home district.
However, later victim's parents in presence of police requested media persons not to highlight the issue owing to security reasons, as suspected by police.
Deputy Superintendent of police, Sumit Kumar said that police teams have launched search operation and outstation police and neighbouring law enforcing agencies have been alerted about the development.
The victim family has a gold business in local Sunaro wali gali, while his father runs a sack business. A case under 365(abduction) and 384(extortion) has been registered against unknown persons