A real estate dispute between two businessmen allegedly led to the kidnapping of a 53-year-old jeweller in Hyderabad, with a 12-member gang posing as police personnel, using vehicles with fake registration plates and demanding a staggering ₹15 crore ransom from his family.
The Chikkadpally police, along with the Commissioner’s Task Force, Secunderabad Zone, arrested 10 members of the gang and recovered ₹1.07 crore in cash, officials said on Saturday.
The victim, K. Srinivas Rao, a jewellery businessman, was abducted near Golnaka flyover on October 5 while going to his shop in Ramanthapur. The kidnappers blindfolded him, took him to an undisclosed location and held him captive while negotiating a ransom with his family.
According to the police, the gang initially demanded ₹15 crore but eventually settled for ₹1.30 crore, which was paid by the victim’s family before he was released.
DCP Secunderabad Zone Rakshita Murthy said that the conspiracy stems from a dispute involving a real estate venture at Hemanagar in Boduppal. The prime accused, Dumavath Srikanth, 37, who was involved in the construction business, allegedly held a grudge against Srinivas Rao over the venture.
“Srikanth hatched the kidnapping plan in August 2026 along with Gunjapogu Suresh alias Surya, 31, and Srinivas Reddy, who is currently absconding,” said the officer.
The plan was allegedly intended not only to extort money but also to secure an agreement of sale-cum-general power of attorney (AGPA) in Srikanth’s name concerning the disputed real estate venture.
“As part of the operation, the gang allegedly impersonated police personnel to intercept Srinivas Rao near Golnaka flyover. The accused used vehicles fitted with fake registration plates and repeatedly changed vehicles to evade detection,” explained the DCP.
The kidnapping came to light after Srinivas Rao’s brother-in-law approached the Chikkadpally police on October 5, reporting that the businessman had gone missing while travelling to his shop. During the investigation, the victim disclosed how the gang had forcibly abducted him, blindfolded him and confined him at an undisclosed location until his family arranged the ransom.
Following an investigation, the Chikkadpally police and the Secunderabad Zone Task Force identified the gang members and apprehended 10 accused.
Apart from Srikanth and Suresh, the arrested persons were identified as Gudem Sravan Kumar alias Sunny, 19, Bandari Samson alias Lucky, 22, Burani Dhan Singh, 26, Sardar Kuldeep Singh, 27, Bauri Bheem Singh, 29, Heera Singh, 28, Sardar Gobin Singh, 31, and Ramagalla Prasad, 26.
Police recovered ₹1.07 crore of the ₹1.30 crore ransom amount, along with gold ornaments weighing approximately 118.26 grams, nine mobile phones and five vehicles.
The seized vehicles included a Mahindra Bolero, Maruti Suzuki Ertiga, Kia Seltos, Bajaj Pulsar motorcycle and Suzuki Access scooter. Investigators said several members of the gang had previous criminal records.
Srikanth was previously involved in 16 cheating cases registered at LB Nagar, Medipally, Saroornagar and Vanasthalipuram police stations in connection with alleged fraudulent offers involving residential flats. Suresh, meanwhile, has a criminal history involving theft, robbery, extortion and kidnapping for ransom, with cases registered across several police stations, including Sadashivpet, Jeedimetla, Langar Houz, Gachibowli, Asifnagar and Raidurgam.
Samson was also previously involved in five property offences, including housebreaking and theft, police said. Two other accused, Srinivas Reddy, a native of Giddalur in Andhra Pradesh, and Vikas, a Bihar native residing in Karnataka, remain absconding. Police are attempting to trace the duo and recover the remaining ransom amount.