An 86-year-old industrialist Velamati Chandrasekhar Janardhan Rao was allegedly murdered at his residence by his grandson over a property dispute. The victim sustained multiple stab wounds, police said on Sunday.
Janardhan Rao, the head of the Veljan Group of Companies, was killed at his residence in Somajiguda on Thursday night. The crime was uncovered late Saturday when authorities apprehended the accused.
According to investigators, Keerthi Teja, who had recently returned from the United States after completing his Master's degree, engaged in a heated altercation with his grandfather regarding property matters. The argument escalated violently, culminating in Teja stabbing Rao more than 70 times.
The accused also stabbed his mother when she tried to intervene. She sustained injuries and was admitted to a hospital, Panjagutta police said.
Teja and his mother, who live in another part of the city, visited Rao's house in Somajiguda on Thursday. While she went to get coffee, an argument broke out between Teja and Rao over the distribution of his property, police said.
Teja took out a knife and 'attacked' his grandfather, accusing him of being indifferent toward him since childhood and "refusing" to distribute the property to him, Hyderabad police said, citing preliminary investigations.
Sources revealed that Janardhan Rao, originally from Eluru, Andhra Pradesh, had recently appointed his eldest daughter’s son, Srikrishna, as the Director of Veljan Group. Additionally, he had transferred shares worth Rs 4 crore to Keerthi Teja, the son of his second daughter, Sarojini Devi.
Based on a complaint, a case of murder was registered against the accused, and he was arrested, police added. Further investigation is ongoing.
The industrialist was also recognised for his philanthropic contributions, making significant donations to the Government General Hospital in Eluru and the Tirumala Tirupati Devasthanams.
Established in 1965, Veljan has expertise in providing complete solutions for various applications, including shipbuilding, energy, mobile, and industrial segments, according to the company's website.
