Six of the alleged abductors have also been arrested in this connection, Surat Police Commissioner V K Gupta told.
"The two were rescued in a joint operation by Valsad and Surat police and the abductors, who had also demanded a ransom of Rs 1 crore, have been arrested," he added.
The breakthrough was made after the joint teams, following a tip-off, managed to crackdown on the alleged kidnappers late yesterday, he said.
"I have personally spoken to the kidnapped youths and they have said that they are relatives of Sehwag," the Surat Commissioner said.
The victims, Pradeep Rana (21) and Ashok Solanki (20), had come to Mumbai on October 21 in response to an advertisement offering breaks to youths in tele-films.
On their arrival, the two were abducted and their parents in Delhi received a call for ransom.