A 45-year-old man was stabbed to death by a financier for defaulting on repayment of Rs. 6 lakh loan, at Abids late on Tuesday night.

The accused D. Uday Anand was caught by the Abids police within 24 hours along with three of his associates -- Syed Saleem, D. Vijay and Mohammed Ahmed -- Central Zone DCP V. B. Kamalasan Reddy said at a press conference here on Wednesday. A Honda Activa scooter and two daggers were seized also from them. According to the DCP, the victim Ramesh Raju, hailing from Nellore district, was allegedly running a brothel from a rented flat at Kalyan Nagar in S.R. Nagar for the last few months. Six years ago he had borrowed Rs. 6 lakh from Uday. After paying the interest for a year, Ramesh defaulted on payment.

In spite several efforts Uday failed to recover the loan and eventually decided to eliminate Ramesh.

A few days ago, Ramesh once again approached Uday for Rs. 40,000 as loan.

Promising to arrange for the money, Uday lured him to Troop Bazar late on Tuesday night and when Ramesh reached the designated spot, Uday sprinkled chilli powder on him and attacked him with a dagger.

Even as an injured Ramesh ran for his life, Uday caught up with him near Ramakrishna theatre, stabbed him to death and fled along with his accomplices.