On Oct 5, a gang posing as police ambushed K. Srinivasa Rao while he was en route to his Ramanthapur jewellery shop. The men blindfolded the 53‑year‑old businessman, locked him in an undisclosed location, and demanded ₹15 crore in ransom.
Hyderabad’s Secunderabad Zone Deputy Commissioner Rakshitha Krishna Murthy said investigators traced the plot to a property dispute in Boduppal’s Hemanagar area, where the prime accused Dumavath Srikanth, along with Gunjapogu Suresh (“Surya”), Suri, and Srinivas Reddy, allegedly conspired to extort the jeweller’s family.
A joint operation involving the Commissioner’s Task Force secured the suspects’ arrest, seized ₹1.07 crore in cash, 118.26 grams of gold, five vehicles and nine mobile phones, and recovered the majority of the ransom demanded.
Despite the haul, two accused — including Srinivas Reddy — remain on the run. The arrested suspects face judicial remand, while police are racing to recover the remaining ransom and locate the fugitives.