Hyderabad police have arrested 10 people who allegedly abducted a jewellery businessman while posing as police personnel and demanded ₹15 crore from his family, releasing him after receiving ₹1.3 crore in ransom. Two other suspects remain absconding, police said.
K Srinivas Rao, 53, went missing on October 5 while travelling to his jewellery shop in Ramanthapur. Following a complaint from his brother-in-law, Chikkadpally police registered a missing-person case and began an investigation.
Rao later told investigators that he was abducted near Golnaka flyover, blindfolded and held at an undisclosed location. According to the police account, the gang used vehicles fitted with fake number plates and repeatedly changed vehicles to avoid detection while keeping him captive.
Police suspect the alleged abduction was linked to a dispute involving a real estate venture in Hemanagar, Boduppal. Investigators said Dumavath Srikanth was the alleged main conspirator and had planned the operation with associates in August. The group allegedly intended to settle the dispute and extract additional money from Rao’s family.
Chikkadpally police, working with the Commissioner’s Task Force, arrested the 10 suspects on Saturday. Those arrested include Srikanth and Gunjapogu Suresh, also known as Surya. Officers seized more than ₹1 crore in cash, 118 grams of gold ornaments, four cars, two two-wheelers and nine mobile phones, police said.
Investigators said some of the arrested people had previous cases involving cheating, theft, robbery and kidnapping. Police alleged that Srikanth had been involved in cheating cases connected to a construction venture, while Suresh had a history of property-related offences and alleged involvement in kidnapping-for-ransom cases.
The case highlights the use of alleged police impersonation and false vehicle registration plates in an organised kidnapping linked to a property dispute. The police account also indicates that the investigation is examining both the alleged criminal network and the financial dealings surrounding the real estate venture.
Two suspects, including alleged co-conspirator Srinivas Reddy, were still absconding as of October 17. Police said teams were attempting to trace them and recover the remaining ransom amount. The arrested accused were being produced before a court for judicial remand, while further investigation continued.
