Police say financial stress during Covid-19 led to drastic actions; accused inspired by crime films
Former grocery store chain owner Ravi Prasad Reddy (40) from Hebbagodi has been arrested for allegedly murdering two acquaintances following severe financial losses suffered during the Covid-19 pandemic.
Police investigations revealed that Reddy, who once owned a small chain of “Happy Family Stores”, had lost nearly ₹5 crore after several borrowers and chit fund partners either defaulted or moved away during the lockdown period. Facing bankruptcy, he reportedly turned to petty trading and began running a small vegetable stall in Hebbagodi.
Victims identified as close acquaintances
The deceased were identified as R Madesh (41), a tea shop owner also involved in chit funds, and Balappa Reddy (61), who owned a metal fabrication factory. According to police, both victims had known the accused for several years and had financial interactions with him.
City police commissioner Seemanth Kumar Singh said that investigations began after the families of the victims expressed suspicion about people with whom they had business ties. “We questioned those close to the victims and eventually zeroed in on the suspect. Joint teams of the CCB and Hebbagodi police were deployed to trace him,” Singh said.
Arrest and police encounter
Reddy was apprehended from a bar near his home on Saturday afternoon. During a subsequent spot investigation near a burial ground at Bommasandra, police said he attempted to attack officers, leading to an encounter in which he sustained injuries to both knees.
His associates, Dhanush and Sateesh, who reportedly assisted him during one of the abductions, have been detained for questioning. Police also stated that Reddy’s sister Sunanda may be questioned further regarding her possible role in the case.
Alleged motive and confession
Preliminary investigations suggest that Reddy harboured resentment against the victims after they allegedly declined to help him financially. A police officer said, “He felt betrayed by his friends who had previously borrowed from him but refused to assist when he was in need.”
Police are also investigating whether Reddy owed money to the victims.
From businessman to vegetable vendor
Originally from Srisailam, Andhra Pradesh, Reddy had established his retail business with help from relatives. After sustaining massive losses during the pandemic, he sold his house and land for about ₹2 crore and leased out his stores. His wife and children moved in with his uncle, while he began living in a rented house owned by Balappa — one of the victims.
To make ends meet, he started selling vegetables with help from his associates, who later became involved in the alleged crimes.
Role of crime films
Police said Reddy claimed to have drawn inspiration from films depicting kidnappings for ransom. He reportedly purchased an air pistol, knives, and a metal detector, telling investigators that he believed he could recover treasure using the device.
Deputy commissioner of police (Electronics City division) M Narayana said, “He had been planning the offences for nearly three months. The first incident occurred on November 4 when he attacked Madesh, followed by another incident involving Balappa two days later.”
Continuing investigation
Police are gathering evidence related to financial transactions and have not ruled out the involvement of others. The case has raised concerns about post-pandemic economic distress leading to extreme behaviour in isolated cases.
Authorities have urged the public not to speculate or circulate unverified information as the investigation is ongoing.