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Former grocery chain owner Ravi Prasad Reddy, 40, from Hebbagodi, who once ran a flourishing network of Happy Family Stores, has now been arrested for the cold-blooded murders of two close friends - tea shop owner R Madesh (41) and metal fabricator Balappa Reddy (61).

According to investigators, Reddy, who once handled crores, was reduced to selling vegetables after suffering a devastating Rs 5-crore loss during the Covid-19 pandemic. Police said nearly 60 people, either debtors or chit fund associates, died or fled during the pandemic, leaving him financially shattered.

Reddy allegedly plotted to rob and abduct his two friends believing they had wronged him. He was arrested from a bar near his residence on Saturday afternoon. Later that night, when taken to a burial ground in Bommasandra for spot investigation, he lunged at police officers and was shot in both knees in retaliation.

Two accomplices, Dhanush and Sateesh, who aided Reddy during Balappa’s abduction on November 6, are currently in custody for interrogation. His elder sister Sunanda, suspected to have been present in the same vehicle during the abduction, is also under police scrutiny.

“We intensified our investigation and questioned the bereaved family members about those with whom the two victims had financial dealings. This is how we zeroed in on the suspect. Special teams of CCB and Hebbagodi police were formed to nab the suspect,” — City Police Commissioner Seemanth Kumar Singh told TOI.

Reddy confessed that he once lent money to both victims but turned bitter when they refused to help him during his financial ruin.

“But they refused to lend me money when I was in deep trouble. This made me develop hatred towards them,” police quoted Reddy as saying. Investigators are also probing whether Reddy was, in fact, indebted to the victims.

Originally from Srisailam, Andhra Pradesh, Reddy’s business empire had thrived with his uncle’s support. But once the pandemic struck, his debtors’ defaults forced him to sell his home and property worth Rs 2 crore, lease out his stores, and live separately from his wife and children, who moved in with relatives. Reddy began living in a small rented house — owned by one of his victims, Balappa.

In an attempt to rebuild his life, he set up a vegetable stall, bringing in Dhanush and Sateesh from Andhra Pradesh to assist him.

Inspired by Crime Films

Police revealed that Reddy drew inspiration from movies showing kidnappings for ransom. He planned the abductions for three months, even purchasing an air pistol, metal detector, and knives.

“Investigations revealed that Reddy hatched his conspiracy for around three months. First, he targeted Madesh on Nov 4,” said Deputy Commissioner of Police (Electronics City Division) M Narayana.

Reddy confessed that he knew Madesh kept Rs 10 lakh in cash at his under-construction home.

“Knowing he would be alone in the under-construction building, I entered the house and threatened Madesh at knifepoint, demanding the money. But he resisted and shouted for help before running away. I chased him and attacked him with a knife. Seeing some neighbours coming out, I sped away on my scooter,” police quoted Reddy as saying.

When his first crime went unnoticed, he targeted Balappa two days later. Borrowing an advocate friend’s MUV, he lured Balappa with a business pretext.

“He drove the MUV in the direction of Hosur and stopped at a desolate place. Then, he demanded money from Balappa who refused. In a fit of anger, Reddy attacked Balappa with the same knife he used in killing Madesh. Then, he brought the body back to his Hebbagodi residence, shifted it to his goods autorickshaw, and returned the MUV after removing stains. Then, Balappa's body was taken to the forest area near Hosur highway and dumped on the same night,” an investigating officer said.