Four men kidnapped Dr Sanjiv Kumar, deputy director, public provident fund, based in Pali (Rajasthan), at gunpoint in the Feroze Gandhi market here on Sunday night.
The Ludhiana Rural police arrested the accused near Jalaldiwal in the district later that night and rescued the officer. A case under sections 452, 364 and 34 of the Indian Penal Code (IPC) and sections 25, 54 and 59 of Arms Act has been registered.
The accused were identified as Jagjit Singh, Ranjit Singh, Baljinder Singh and Gagandeep Singh, all residents of Bathinda district. The police recovered a pistol from their possession.
They were produced before the court on Monday and remanded in one-day police custody.
According to the police, the accused said they had invested Rs 20 lakh in a company in the name of the Dr Sanjiv Kumar’s mother, but the officer allegedly refused to return their money.
Dr Sanjiv Kumar was present in the office of Deep Luxmi Commodity in Feroze Gandhi market late on Sunday when the accused arrived there and kidnapped him at gunpoint. They pulled him into their car and fled towards Mullanpur.
Meanwhile, Kulwant Singh, manager of Deep Luxmi Commodity, raised the alarm. The police reached the spot and started an investigation. Later, the police arrested the accused.
Inspector Dharampal, station house officer (SHO), Division Number 5 police station, said the accused were farmers who had invested money in the company concerned.