According to police, the incident was the fallout of a financial dispute.
A businessman running a hotel in Mumbai was allegedly abducted at gunpoint by some persons over a financial dispute, police said on Tuesday.
The incident took place on Monday afternoon and the police later rescued the businessman, Anup Kumar Shetty, from neighbouring Thane, an official said, adding that seven persons have been arrested in this connection.
Four persons entered Mr Shetty's cabin at Hotel Veera Residency run by him on Andheri-Kurla Road.
The accused allegedly beat up the hotelier, fired three rounds from pistols and threatened him with a knife before abducting him, the official said.
The accused took Mr Shetty to Thane from where a police team rescued him on Monday night, he said.
According to police, the incident was the fallout of a financial dispute between Mr Shetty and one of the accused persons, who had operated the hotel for six months.
Seven persons have been arrested and booked under Indian Penal Code Sections for kidnapping, extortion, rioting, voluntarily causing hurt, criminal intimidation and provisions of the Arms Act, the official said.
A probe is on into the case, he added.