A team of officers comprising Babanrao Palande, Tushar Kadam, Ajay Parmar and Suresh Shinde soon spread a dragnet at the spot. The two turned up early in the afternoon and were nabbed as soon as they accepted the money. During interrogation, they confessed they wereex-students of Prof Saxena and had hit upon the idea after reading a report on extortion in a newspaper recently. Since they had some details on their former professor, they decided to target him first, said an officer. The two students had moved to the city from Uttar Pradesh recently and were staying at the SVP Hostel at Malad. Officers of the Anti Extortion Cell have handed over the two to the custody of Juhu Police station.