N V V Satyanarayana Murthy, MD of Quadriple Technologies, was plotting to kidnap his partner Vijay N Rao, MD of Magnetic Infotech.
The Cyber Crime Police of the Central Crime Station, Hyderabad, on Friday revealed that they had nabbed 5 persons, including a former partner of a software firm, for planning to abduct the managing director of the firm for a ransom of Rs. 2 crore.
According to Deputy Commissioner of Police (Detective Department) J Satyanarayana, the prime accused, N V V Satyanarayana Murthy (32), was arrested along with his accomplices Cherukuri Sridhar, Goda Prasad alias Prasad, Kuthdi Sudharshanalias Dharshan and Aluvala Jagadeeswara Reddy, when there were about to put their kidnap plan into action.
The police seized 15 cell phones, along with SIM cards, and an SUV, from the arrested accused.
Satyanarayana said that the reason behind the kidnap attempt was Murthy's resentment over having lost out when he merged his company with that of Vijay N Rao.
Elaborating further, the police official said that Murthy had completed his M. Tech, and established his own company, Quatriple Technologies, at Kamalapuri Colony with 45-50 employees with himself as MD.
Murthy met Vijay N Rao, and after consultations with him, he merged his company into the latter's company, Magnetic Infotech Pvt. Ltd., in October 2007.
Murthy was appointed as GM, with Rs. 25,000 as his monthly salary, along with the other earnings as a working partner.
After the merger, Vijay Rao paid Murthy Rs. 5 lakh as part of the profit-sharing, in March 2008. Due to the economical meltdown, Murthy did not get good returns after merging his company, while Vijay Rao's business went up steadily.
This developed a grudge in Murthy against Vijay Rao, leading to a plan being hatched about 3 months ago, for Murthy to obtain at least Rs. 2 crore from the latter by kidnapping him.
He planned meticulously and engaged the services 4 of his accomplices, to execute his plan, the police said.
Accordingly, he got his accomplice to lure Vijay N Rao so that he could be kidnapped.
However, Vijay Rao got suspicious and lodged a complaint, based on which the police swung into action and caught the accused.
The accused have been sent to judicial custody, while the case is being investigated. (INN)