Abducted bizman set free after he pleads inability to pay ransom

Coimbatore: A 46-year-old businessman was allegedly kidnapped by a six-member gang from his textile unit at Iduvampalayam in Tirupur on Friday night for a ransom of 5 crore but was let off when he told them that he was deep in debt and could pay only a small fraction of the ransom amount they demanded.
Police said, G Arumugam from Ramu Colony in Tirupur, owned two textile units at Iduvampalayam.He did not return home on Friday night and was found on a road side near Salem the next morning.
Arumugam informed his wife and relatives that he was kidnapped by a six-member gang who posed as police personnel. They had demanded a ransom of 5 crore from him. He was let off when he said he could pay 5 lakh only. He was released close to Thalaivasal toll plaza near Salem on Saturday early morning with his hands and legs tied. He managed to free himself and contacted his family members.
Arumugam's wife and relatives informed Veerapandi inspector (law & order) Raja who alerted Salem police. Immediately he was rescued from the area by Salem police and later handed over to the Tirupur city police.
Arumugam told the police that he had locked his textile units on Friday night and was on his way home. Suddenly a gang of six forced him into a car at knife point.
Based on his complaint, Veerapandi police registered a case.