Hyderabad, 18 October
Hyderabad Kidnapping Case: 10 Arrested, ₹1.07 Crore Recovered
Hyderabad Police have arrested 10 alleged members of a gang in connection with the kidnapping of a jewellery businessman for ransom and recovered cash, gold ornaments and other valuables worth ₹1.07 crore, officials said on Saturday, October 17.
The victim, K Srinivas Rao, 53, reportedly went missing on October 5 while travelling to his jewellery shop in Ramanthapur. Police launched an investigation after his family lodged a complaint.
Businessman Allegedly Abducted Near Golnaka Flyover
According to the police, Rao was abducted near Golnaka Flyover in Hyderabad. The accused allegedly blindfolded him and confined him at an undisclosed location.
Investigators said the gang members impersonated police personnel during the operation. They allegedly contacted Rao’s family and demanded a ransom of ₹15 crore for his release. Hyderabad Kidnapping Case 10 Arrested, ₹1.07 Crore Recovered.
The gang ultimately extorted ₹1.30 crore from the family before releasing Rao, according to the police.
Ten Arrested, Two Suspects Absconding
Police apprehended 10 alleged gang members on Saturday and recovered cash, gold ornaments and other items valued at ₹1.07 crore, officials said.
Two other suspects, including the alleged co-conspirator, remain absconding, according to the police statement. Hyderabad Kidnapping Case 10 Arrested, ₹1.07 Crore Recovered.
Authorities have not provided further details in the information available about the identities of all the arrested individuals or the exact breakdown of the recovered valuables.
Real Estate Dispute Allegedly Behind Kidnapping
According to a police release, investigators suspect that the kidnapping was linked to a dispute arising from a real estate business transaction involving Rao and Dumavath Srikanth, identified by police as the alleged mastermind and prime conspirator.
Police said the main accused allegedly began planning the operation in August with the help of accomplices. The alleged objective was to force Rao to execute an Agreement of Sale-cum-General Power of Attorney (AGP) in the accused’s name for a real estate venture and to extort a substantial ransom from his family.
Investigators allege that the group subsequently carried out the plan, abducting Rao and demanding money from his relatives. Hyderabad Kidnapping Case 10 Arrested, ₹1.07 Crore Recovered.
Investigation Continues
The arrests and recovery mark a significant development in the case, which began after Rao’s family reported him missing earlier this month. Hyderabad Kidnapping Case 10 Arrested, ₹1.07 Crore Recovered.
Police are continuing efforts to trace the two absconding suspects and establish the roles of the individuals allegedly involved in the conspiracy.
The allegations against the accused remain subject to investigation and judicial proceedings.
This report is based on details attributed to the Hyderabad Police. The accused are presumed innocent unless proven guilty in court.