Hyderabad: Man killed over Rs 50 lakhs dispute

A 56-year-old man was allegedly stabbed to death in Chilakalguda, Hyderabad, following a financial dispute involving his son. Police said the accused had allegedly given Rs 50 lakh to the victim’s son for share market investments, but the money was not repaid.

Hyderabad: A financial dispute over share market investments claimed a life after a man allegedly killed the father of a person who had reportedly defaulted on a large sum of money in Chilakalguda on Tuesday night.

According to police, Mohd Nizamuddin (36) of Bholakpur, Musheerabad, had known Suman of Namalagundu, Chilakalguda for the past few years. Suman allegedly collected around Rs 50 lakh from Nizamuddin on the pretext of share market trading and investments but later failed to repay the money and went absconding.

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Angered over the loss and unable to trace Suman, Nizamuddin allegedly decided to target his family. At around 8 pm, he reportedly approached Suman’s father Srinivas (56) near Evergreen Tent House at Mylargadda and stabbed him twice in the abdomen with a knife.

Srinivas suffered severe bleeding and was rushed by locals to the TGSRTC Hospital. Despite best treatment, he died later.

The Chilakalguda police are investigating. They detained Nizamuddin.