Businessman kidnapped in Hyderabad, released after Rs 1 cr ransom

Gajendra Prasad, a city-based financier was allegedly kidnapped by some unidentified assailants on Sunday night from Domalguda. The kidnappers then demanded Rs 3 crore ransom from Prasad's family.

However, after receiving Rs 1 crore ransom from them, the miscreants dropped in Abids on Monday and fled the spot.

Based on the complaint lodged by the Prasad, the police registered a case and efforts are on to nab the kidnappers. Meanwhile, the police came to know that Prasad has conflicts in business dealings with Mumbai based businessman.