Police seized the five suspects in Thane’s Khadavli area, following a trail of CCTV footage and tips from residents that led them to the kidnappers’ hideout.
The kidnapping began on May 20, when Jayram Nehalani was seized from the Gol Maidan stretch of Ulhasnagar. His family promptly handed over Rs 50 lakh to the kidnappers, who then left, assuring the money‑handler that Nehalani would be released.
Investigators say estate agent Sachin Shirsat, a close associate of Nehalani, masterminded the plan and fled the scene immediately after the ransom was paid.
The police have named five arrested individuals—Anil Jagtap, Vishal Chandramore, Ramesh Jadhav, Rahul Soni, and Shirsat—while two others, Satish Donde and Mayur Darane, remain at large.
Nehalani’s wife, Meera, said she had no idea the plan was in motion, and the family is now hoping for a full judicial process. Police will next seek the two fugitives and charge the remaining suspects with kidnapping and murder under the Indian Penal Code.