Hyderabad: Andhra industrialist Velamati Chandrasekhar Janardhan Rao was allegedly stabbed 73 times by his grandson Keerthi Teja over a property dispute. Keerthi Teja has been arrested by police.
Head of Veljan Group of Companies, Janardhan Ra,o was murdered at his residence in Hyderabad on Thursday night. The incident came to light late on Saturday after police arrested the accused, IANS reported.
Janardhan Rao, 86, who hailed from Eluru in Andhra Pradesh, has been living at his residence in Somajiguda here for the last few months.
He had recently appointed his eldest daughter’s son, Srikrishna, as Director of Veljan Group and transferred shares worth Rs 4 crore to Keerthi Teja, son of his second daughter, Sarojini Devi.
According to police, Sarojini Devi and her son visited Janardhan Rao’s residence on Thursday. There was an argument between Janrdhan Rao and Keethi Teja over the distribution of property. Accusing his grandfather of unfair treatment, Keerthi Teja allegedly took out a knife he had brought with him and stabbed Rao repeatedly. The 29-year-old stabbed Rao as many as 73 times, resulting in his death on the spot.
Sarojini Devi, who had gone into the kitchen to bring tea, returned upon hearing the commotion and tried to intervene. Keerthi also allegedly attacked her, and she sustained four stab wounds.
The accused also threatened the security guard, who had witnessed the murder and fled the scene.
Panjagutta police on Saturday registered a case of murder and began an investigation. They arrested the accused, who recently returned from the US after completing his Master’s degree. He was subsequently produced before a court, which sent him to judicial custody.
Police suspect that the accused may be a drug addict. They were conducting further investigation.
Rao was also known for philanthropic work. He had made huge donations to the Government General Hospital in Eluru and to the Tirumala Tirupati Devasthanam (TTD).