KARACHI Business tycoon Riaz Lalji who went missing in Karachi on Sunday hours after arriving in the city from Dubai has returned home on Monday, after nearly 24 hours.

Lalji arrived in Karachi PIAs flight no PK-214 and went missing along with his gunman and driver near the Karachi airport. Mr Laljee's Mercedes was found abandoned on Shara-e-Faisal.

Sources told Dawn said that at least two vehicles which looked like police mobiles had been used by the kidnappers.

The family got worried when Mr Laljee did not reach home and his cellphone and those of his driver and gunman were found to have been switched off.

Police were informed about the incident. A special investigation team was constituted. It was headed by DIG East Khalique Shaikh and comprised of SSP Farooq Awan and SSP Niaz Ahmed Khosa.

Police registered an FIR against unknown people on the complaint of Mr Laljee's manager, Maj (retd) Mohammad Tahir. The FIR was lodged at the airport police station.

Interior Minister Rehman Malik lauded the police in their efforts for his successful recovery.

Riaz Lalji, a well-known industrialist and a close friend of President Asif Ali Zardari, owns Abbas Steel Group and in the past was also in the business of rice export.

Kidnappings for ransom have become common in recent years on a pattern recorded in early 90's when the city's overall security condition was quite unstable.

Ninety-two cases of kidnapping for ransom were reported in 2008, closely followed by at least 85 in 2009.