According to the police, Rajendra alias Raghu Shekar Shetty (21) and Ranjan alias had threatened a Bandra garment exporter to pay up Rs 50 lakh or face dire consequences. The gangster asked the victim to bring the money to a spot near Garden Hotel at Kandivli, the police further added.

The duo, allegedly members of the Phatak gang, told the businessman that they would shoot him and his family members if he did not pay the ransom. The petrified victim informed the police and a trap was laid near Hotel Garden this afternoon.

No sooner the gangsters emerged to collect the booty, they were overpowered by the squad which lay wait in plain clothes. The antecedents of the duo are being investigated.