PM [1]
Rank : Helper
Status : Super Owner
#1
An altercation over property prompted a 28-year-old man to stab his industrialist grandfather to death in Hyderabad, police have said. VC Janardhan Rao was Chairman and Managing Director of the 460-crore Veljan Group of Companies which deals in hydraulics equipment, shipbuilding, energy and industrial applications.
Keerthi Teja, who has been arrested on the charge of murdering his 86-year-old grandfather, had returned from the US after a postgraduate course. On Thursday night, he and his mother Sarojini Devi visited his grandfather's home in Hyderabad. As Teja spoke to his grandfather, his mother went to the kitchen to make tea. The argument broke out over a director position in the company. Mr Rao had recently appointed his eldest daughter's son Srikrishna as director of Veljan Group. He had transferred shares worth Rs 4 crore to Teja, the son of his second daughter Sarojini.
During the altercation, Teja accused his grandfather of unfair treatment. He accused his grandfather of neglecting him since childhood. At one point, Teja lost his cool and allegedly stabbed his grandfather with a knife he had brought with him. Multiple reports have said the accused stabbed his elderly grandfather over 70 times. Police have confirmed there are multiple stab wounds but added that the autopsy report would confirm the exact number. His mother rushed to intervene and Teja stabbed her too. She has been hospitalised with four knife wounds.
Following the murder, Teja threatened the security guard who witnessed the murder and fled the scene. He was later arrested, produced in court and sent to judicial custody. Police said the probe is on. Some reports have said Teja was under the influence of drugs.
Mr Rao was also known for philanthropy and had made huge donations to the Government General Hospital in Eluru and the Tirumala Tirupati Devasthanam.