Police sources said that a big amount of cash - paid as ransom by the family of abducted industrialist Manish Bharara to secure his release - was recovered from those arrested. Bharara had returned home Sunday night.
Ludhiana Police Commissioner Paramjit Singh Gill said that five people involved in the abduction of Bharara and his driver Hem Lal last week have been arrested.
The victims were waylaid by the abductors, who came in police uniforms, here last week. They took them away along with Bharara's luxury car.
Punjab Police also sent a team to Hamirpur district of neighbouring Himachal Pradesh to nab the remaining two but they managed to give a slip to police, while leaving their car behind.
Meanwhile, Himachal Pradesh Police recovered a huge sum amounting to Rs.4,60,90,500 from an Alto car, parked outside the campus of the Deotsidh temple in Hamirpur.
"Three bags full of currency notes were recovered from the parked," Superintendent of Police Jagat Ram told IANS.
However, he refused to give details about the case saying the matter "is under investigation".
Police are suspecting that the money was part of ransom allegedly received by some people from an industrialist of Ludhiana in lieu of releasing his son.
Gill said that police did not take action against the abductors earlier to ensure the safe return of the industrialist.
He said that the mastermind of the abduction was Guru Arpan Chauhan, who with six others, including a woman, had hatched the conspiracy two months ago. Chauhan and the woman were among the arrested.
"They did a recce of the factory premises at Doraha on main GT Road several times," Gill said.
Police recovered three pistols, a duplicate AK-47, four police uniforms, five mobile sets, one handcuff, one walkie-talkie set, two cars and other things from the arrested people.
--IANS (Posted on 17-07-2013)