HYDERABAD: Seven persons were held on Wednesday for allegedly burning pesticides worth Rs 10 crore at Crystal Crop Protection at Auto Nagar in Vanasthalipuram police limits last month on September 23 and for ‘stealing’ pesticides worth Rs 3 crore, police said.
The arrested include S Yellareddy, K Srinu, Shaik Siddiq Basha, Shaik Rafiq, Shaik Muthujavali, Gajjela Ajay Kumar, and Madepovu Suresh.
Speaking to media persons here on Wednesday, LB Nagar DCP Sanpreet Singh said the key accused Yellareddy has started pesticide business with Crystal Crop Protection Ltd in Vanasthalipuram and opened 10 shops across Telangana and Andhra Pradesh. However, he soon ran into huge debts of about Rs 7 crore.
“Yellareddy bore a grudge against the company after he was supplied material worth only Rs 38 lakh for which he had paid Rs 50 lakh and planned to create loss to the company and also to overcome his debts by committing theft of stock from the godown,” the DCP said.
The accused hatched a plan and allegedly poured petrol in the godown and set it ablaze with the help of others. It is learnt that they also stole pesticides worth over Rs 3 crore before escaping from the godown.