Police rescue kidnapped businessman held over financial dispute; 5 held

The incident took place on March 24 when the businessman Jayesh Oswal, 31, a resident of Gultekdi, was abducted from the Timber Market area by a group of men

Pune police rescued a businessman within 24 hours after he was allegedly kidnapped over a financial dispute. Five suspects were arrested in the case, police said.

he accused later contacted the victim’s wife and demanded a ransom of ₹1.5 crore for his release. (REPRESENTATIVE PIC)

The incident took place on March 24 when the businessman Jayesh Oswal, 31, a resident of Gultekdi, was abducted from the Timber Market area by a group of men.

The accused later contacted the victim’s wife and demanded a ransom of ₹1.5 crore for his release. Following the complaint, a case was registered at Swargate police station under relevant sections of the Bharatiya Nyaya Sanhita.

Multiple teams were deployed across areas, including Velhe, Donje, and Khed Shivapur, while officers continuously analysed intelligence inputs to trace the accused.

As part of the strategy, police acted on instructions given by the kidnappers to deliver the ransom at Mitra Mandal Chowk in Swargate. On Wednesday morning, police laid a trap, and when two individuals arrived to collect the money, they were detained and interrogated. They were identified as Pranav Baban Nivangune, 23, from Ambegaon Pathar, and Sahil Shrikant Khutwad, 21, from Katraj Pune.

During questioning, the duo revealed details about their accomplices—Saurav Vishwanath Pawar, 27, from Bavdhan Khurd, Shirish Jitendra Khopde, 26, from Katraj, and Mandar Shridhar Daravatkar, 30, from Wadgaon Budruk—who had held the businessman captive at Khed Shivapur after abducting him in a car.

Pawar is a civil engineer by profession, and the victim owed him the pending amount of ₹ 1.5 crore from their business deal.

Vishwajit Kaigade, senior police inspector, said, “Due to pending business transactions, the accused kidnapped the victim and demanded the amount pending from their business deal.”

Yashvanth Nikam, senior police inspector at Swargate station, said, “The accused were produced in court on Wednesday, and the court granted them police custody until March 29.”