VIJAYAWADA: Vijayawada city police cracked a case of kidnap within four hours of the complaint lodged at the II Town police station on Thursday. The kidnapped person, P Venkata Satya Prasad, is a native of Piduguralla in Guntur district. According to police, Prasad has been doing finance business for the past seven years. He reportedly took loans to an amount of Rs 2 crore on interest and used to give loans to needy persons on a higher rate of interest. He incurred heavy losses in the business and filed an insolvency petition at Gurazala court in October, 2018.
However, some persons who were in possession of promissory notes given by Prasad too approached the court. Three of them -- Tirupati Rao, Satyanarayana and Narasimha Rao -- gave Rs 15 lakh, Rs 35 lakh and Rs 16 lakh respectively and they were pressuring Prasad to return the amount. Unable to repay the amount, Prasad left Piduguralla and was taking shelter at the house of his uncle, Challa Mallikarjun in Jenda Chettu Centre.
The trio came to know that Prasad was taking shelter in Vijayawada and tracked him to Islampet. On Wednesday night, the trio came by a car to Vijayawada and kidnapped Prasad from Jenda Chettu Centre on Wednesday night. They took Prasad to Piduguralla.
Meanwhile, Prasad’s uncle Mallikarjun filed a kidnap case at the II Town police, who formed special teams to track down the accused and release the abducted person. The special teams tracked down the abductors to Piduguralla and Prasad was rescued from them. Apart from the trio, car driver A Gangadhar, who helped them kidnap Prasad, was also arrested, police said.