Jagadish, an automobile dealer in the city, was abducted by a group of six persons, said to be from Kurnool of neighbouring Andhra Pradesh, on Monday night.
Money transaction was said to be the reason for the abduction. The incident occurred while Jagadish was returning home after closing his shop in Lorry terminal.
According to police, one Srihari had secured a loan from Krishna Rayalu of Kurnool to the tune of Rs. 30 lakh. After Srihari’s death, Krishna Rayalu began demanding repayment of the money from his family members and when there was no response, he reportedly asked Jagadish, brother-in-law of Srihari, to repay the amount.
The family members of Jagadish said that though they had lodged a complaint with the police about the threatening calls in this regard, no action was initiated. Jagadish was then abducted.
On Tuesday, Kamala, wife of Jagadish, met R. Chetan, Superintendent of Police, and asked him to rescue her husband.
Brucepet police have registered a case and two teams have been formed to investigate it.
