Sudhir Mahajan (55), managing director of M/S BDM & Sons (Pvt) Ltd, was abducted late Tuesday while he was headed home in the town from his factory. He was rescued from Khatauli town of Muzaffarnagar district late Wednesday.

"The three men guarding Mahajan have been arrested. They have been identified as Omvir, Sushil and Krishna - all residents of Rachauti village in Muzaffarnagar," Meerut Senior Superintendent of Police K. Satryanarayan said.