IIM grad abducted by his ex-live-in partner for Rs 12 crore, rescued from Mumbai

TNN / Updated: Mar 21, 2025, 09:15 IST

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An IIM graduate, Nikhil Parmar, was kidnapped in Navi Mumbai as part of a Rs 12 crore ransom plot masterminded by his ex-lover, Priti Sinha. After his father paid Rs 1.5 crore but couldn't meet him, he sought police help, leading to Nikhil's rescue and the arrest of three individuals on March 18.

IIM grad abducted by his ex-live-in partner for Rs 12 crore, rescued from Mumbai

Rs 1.5 crore ransom paid by victim’s father recovered by police

VADODARA: A broken live-in relationship turned into a harrowing ordeal for an IIM graduate from Vadodara, who was kidnapped and held captive in a Navi Mumbai apartment for nearly a month in a Rs 12 crore ransom plot allegedly hatched by his ex-lover.
On March 18, a joint operation by Vadodara police and Navi Mumbai police led to the rescue of 32-year-old Nikhil Parmar, who runs a private fund management firm, and the arrest of three people, including a woman. Police have intensified their search for Priti Sinha, Nikhil's former live-in partner.
Police said Nikhil and Priti were in a live-in relationship for four years before parting ways last year. However, Priti allegedly conspired with her business partner Kapil Rajput to extort money from Nikhil's father, Rajnikant Parmar.
Rajnikant had already paid Rs 1.5 crore to the kidnappers, but their relentless demands for entire ransom amount continued. When they refused to let him meet his son, he decided to seek police help.

The accused threatened to frame Nikhil in a rape case, claiming they had powerful connections in the Union Home Ministry that would ensure his swift arrest.
Investigations revealed that Priti and Rajput, who ran a finance business, plotted the kidnapping to make quick money. They enlisted the help of Girish Bholey and Madhumita Potdar to execute the plan.
"Nikhil was abducted in February and confined in a Navi Mumbai apartment. The accused falsely told him that multiple FIRs had been lodged against him in five states and that police were actively searching for him," said deputy commissioner of police (DCP) Abhay Soni.
To secure his release, the gang demanded Rs 12 crore and forced Nikhil to call his father in Vadodara. A terrified Nikhil complied, leading to two ransom payments: On Feb 28, Bholey traveled to Vadodara and collected Rs 70 lakh from Rajnikant. On March 5, he again came to the city where Rajnikant handed him another Rs 80 lakh fearing for his son's safety.
After paying a total of Rs 1.5 crore, Rajnikant pleaded with Rajput to allow him to meet Nikhil. Rajput told him to come to Navi Mumbai but refused to grant access to Nikhil, instead demanding an additional Rs 10.50 crore.
The gang made two more ransom calls on March 13 and 16, after which Rajnikant confided in Nikhil's friend, Ankit Patel, who convinced him to approach the police.
On March 18, Bholey arrived in Vadodara to collect another ransom payment but was nabbed by the Gotri police. He led the cops to the Navi Mumbai flat from where Nikhil was rescued.
Threatened with multiple FIRs
Nikhil had travelled with Priti Sinha to different states during their relationship. Sinha told him that if he didn’t cough up the ransom, she would frame him in a rape case in all those states and get him arrested easily. After Parmar’s father gave the gang Rs 1.50 crore, they used some of it to look after the victim, including his food expenses.
Nikhil hidden behind washing machine
When the police reached the flat in Navi Mumbai, all three accused were present there. The cops then searched for Nikhil and found him hidden behind a washing machine on the balcony. The kidnappers put a cloth over him to ensure that the police didn’t find him.

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