Hyderabad police have arrested ten individuals for the kidnapping of 53-year-old jewellery businessman K Srinivas Rao, allegedly planned over a real estate dispute in Boduppal. The gang, posing as police personnel, abducted him near the Golnaka flyover on October 5 while heading to his shop in Ramanthpur, demanding ₹15 crore before releasing him after an alleged ₹1.3 crore ransom payment.
Led by prime conspirator Dumavath Srikanth, the gang used fake number plates and switched vehicles to evade detection. Police seized over ₹1 crore in cash, gold ornaments, and multiple vehicles from the ten arrested suspects. Two other accused, including co-conspirator Srinivas Reddy, remained absconding as of October 17.
