Bantwal : A group of unidentified miscreants allegedly kidnapped a young businessman at Panemangalore and released later on October 12, Sunday.

The kidnapped youth has been identified as Anup (26), a resident of Sarapady. Anup was released at BC Road after friends lodged a complaint with the police.

It is learnt that, Anup who owns an arecanut processing factory had taken a loan from a finance firm and having failed to return it on time and the amount had reached to lakhs due to additional interest.

Police suspect that he was kidnapped to threaten scare him into paying the outstanding amount.

After the release, Anup appeared before Bantwal circle inspector Beliappa and said that he was released by the kidnappers after he assured to pay the amount soon.

A case has been registered in Bantwal town police station.