The victim, Dhanasekar, a finance firm owner and a resident of SIHS Colony in Mookambigai Nagar, was cleaning his car outside his residence when the kidnappers arrived.

The men struck up a casual conversation before forcing Dhanasekar into their vehicle at knifepoint. They then drove towards the Palakkad Road and demanded Rs 2 crore for his release.

When Dhanasekar told the abductors that he did not possess such a large sum of money, they became suspicious about his identity. The gang photographed him and sent it to the person who had orchestrated the abduction for verification.

Police said the mastermind informed the gang that Dhanasekar was not the person they had intended to abduct. Realising their mistake, the gang released him on the Palakkad Bypass Road. Before fleeing, the accused warned Dhanasekar against informing the police and took away his mobile phone, car keys and house keys.

Based on his complaint, the Singanallur police registered a case and launched an investigation. CCTV footage from the locality was analysed, leading investigators to identify Karthi, alias "Police Karthi", a habitual offender from Podanur, as the mastermind behind the kidnap.

One suspect has been detained from Tiruchy for questioning, while efforts are under way to trace and arrest the remaining accused. The investigation is in progress.