10 held for posing as policemen and kidnapping jeweller

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.