Andhra Pradesh - Hyderabad   

Two held on kidnap charge

Staff Reporter

Former business rival plans kidnap of industrialist

HYDERABAD : The attempt to kidnap industrialist M. Krishna Rao on Friday was planned by his former business partner K. Ramanaiah, the Sanathnagar police said here on Saturday.

The police arrested Ramanaiah and Narasimha, two of the ten members of an alleged gang of extortionists who tried to kidnap Rao at gunpoint from his factory in Moosapet. Patolla Goverdhan Reddy who was allegedly involved in several sensational murders, including that of Telugu Desam legislator Paritala Ravindra, led the gang.

Differences arise

Ramanaiah and Rao used to supply electric transformer spare parts to A.P. Transco. They developed differences over profit-sharing. While Ramanaiah charged that his partner owed him Rs. 1.32 crore, the latter denied it. "Frustrated over not getting back his money, Ramanaiah even tried to contact surrendered naxalite B. Sammi Reddy and met one Narasimha Reddy, who was involved in a couple of murder cases," said Balanagar ACP S. Madhava Chary. In his confessional statement, Ramanaiah said he met Goverdhan Reddy in a city lodge and the kidnap plan was scripted then, the ACP explained.

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