After denying during the day that any ransom was paid to secure his three-year-old son's release, Adobe India's CEO Naresh Gupta on Friday night admitted that he paid Rs 50 lakh to the abductors.

"As a strategy, we decided that we should pay the ransom. The child would in the process come out and reach us," Gupta said.

"It was a matter of faith... because we were sure about recovering the money," he said.

Refusing to reveal where the deal with the abductors took place, Gupta said, "It was a minor risk we took. Either one takes risk with Rs 50 lakh or the child's life.

"It was easier because we knew everybody in the whole network and hence we were 100 per cent sure about recovering the money," Gupta added.

Anant's uncle Lalit Gupta said news of the ransom was not revealed so that the kidnappers were not alerted.

Noida Senior Superintendent of Police, R K S Rathode said late on Friday night that during the interrogation of Jitendra, the person arrested in connection with the high-profile abduction case, it was revealed that the ransom was at his residence.

Jitendra was arrested earlier in the day.