Bhubaneswar: A failed deal involving a rare antique Hanuman coin and an alleged payment of Rs 2.7 crore was the motive behind the kidnapping of a Balangir-based businessman, police said on Sunday after rescuing the victim from Bhubaneswar and arresting the prime accused.
Balangir SP Abilash G, however, said police are yet to find any evidence to substantiate the alleged financial transaction, even as they continue to probe the “antique coin” angle and hunt for five other accused.
The victim, Narendra Sahu (52), a businessman from Balangir, was allegedly abducted on Friday afternoon near a toll gate on National Highway-57 in the Puintala area by six persons. Police rescued him from the state capital on Saturday following a joint operation by the Balangir police and the Bhubaneswar-Kataka Police Commissionerate.
The prime accused, Kshitish Chandra Sahu (50), a resident of Bhubaneswar, was arrested, while another alleged accomplice, Sanjit Behera of Balangir, was arrested on Sunday. According to police, Behera allegedly shared the victim’s movements and location with Kshitish, helping execute the kidnapping.
Investigators said the abduction was allegedly planned to recover Rs 2.7 crore, which Kshitish claims he had paid Narendra in 2020 for a rare antique Hanuman sikka (coin). Police, however, said no documentary or financial evidence has yet been found to support the accused’s claim.
“Kshitish had been tracking the victim’s movements for three days before the incident. On Friday, after spotting Narendra alone in his car near Malamunda village, he and his associates forcibly dragged him into their vehicle and drove towards Bhubaneswar,” Balangir SP Abilash G said.
According to the SP, the accused allegedly tried to make the abduction appear voluntary by allowing the victim to speak to his family over the phone from different locations while he was being held captive.
Narendra’s car was found abandoned near the toll gate shortly after the abduction, prompting police to launch an intensive investigation. CCTV footage and mobile phone tracking helped investigators trace the accused’s movements and locate the victim.
Police produced Kshitish before a local court in Balangir, which remanded him to judicial custody. Investigators said they would seek his custodial remand for further questioning.
The investigation has taken a fresh turn after the victim denied receiving Rs 2.7 crore from the accused. Police said the statements of the accused and the victim are contradictory and that the alleged transaction remains unverified.
According to police sources, Kshitish had allegedly demanded the return of the money after the purported 2020 deal fell through, but Narendra refused. Investigators are now trying to trace a person whom the accused claims was present during the transaction and could corroborate his version.
Police are also probing the possible involvement of local residents in the conspiracy and have launched a manhunt to trace the remaining five accused. The victim, who was rescued safely, was released after questioning, while the investigation is continuing.
