Abhi Verma, a student of DAV School from Hoshiapur, was abducted from outside his school by Vikram Singh and Jasvir on Feb 14, 2005, when he was going to school in a car.
After the family failed to meet the Rs 50 lakh ransom demand, the kidnappers administered the boy a heavy dose of sedative substances resulting in his death.
A bench comprising of Justices H S Bedi and J M Panchal said, "Kidnapping has become a lucrative and thriving industry all over the country."
The Apex court interpreted Section 364-A which provided for death or life imprisonment for offences relating to kidnapping.
The court said the provision was enacted by way of an amendement by Parliament to act as a deterrent on such offenders due to increasing number of such cases.
"The horror, distress and the devestation felt in the family on the loss of an only son can only be imagined," Justice Bedi writing the judgement said.
No mercy could be shown towards Vikram and Jasvir, the Bench said upholding the death penalty to them.