HYDERABAD: Kidnapping and extortion cases have been registered against former Officer on Special Duty (OSD) Radha Kishan Rao, inspector Gattu Mallu and sub-inspector Mallikarjun, who were part of Task Force previously, for reportedly kidnapping Kria Healthcare founder Venu Madhav Chennupati and assisting the company’s part-time directors take over the reins from him. The accused officers are also alleged to have forced him into transferring his shares, worth around Rs 100 crore, in the firm to the part-time directors and a mediator by threatening him at gunpoint in December 2022.
Cases were also registered against the four part-time directors of the company and the mediator. When Venu refused to transfer his shares to the four part-time directors, they approached the police, who abducted the founder with the help of Radha Kishan, the FIR read. “Due to the influential status of Kria Healthcare’s four part-time directors, they were able to leverage their contact with a highly powerful person. This person called upon DCP Radha Kishan and gave him the go-ahead to execute the plan and take over the company. Radha Kishan was promised hefty amounts by the four part-time directors for executing this kidnap plan,” it added.
With Radha Kishan arrested in the phone-tapping case recently, Venu came forward to lodge a complaint with the Jubilee Hills police on Monday. The police registered fresh cases against Radha Kishan Rao under Sections 386 (extortion using the threat of death or grievous hurt), 365 (kidnap), 341 (wrongful restraint) and 120(B) (criminal conspiracy) read with 34 of the Indian Penal Code on Wednesday. However, these cases are unrelated to the phone-tapping case.
Radha Kishan threatened bizman at gunpoint: FIR
Kria’s part-time directors met Radha Kishan with a plan to kidnap Venu, the FIR said
Cops in civilian clothes picked Venu up on November 22, 2022
As per the FIR, Radha Kishan, along with other officers, forced Venu into signing documents to sell his remaining shares in Kria Healthcare at gunpoint
Firm founder picked up police in civilian clothes: Complaint
Venu Madhav, 46, an MBA graduate from Harvard University, started Kria Healthcare Private Limited in Jubilee Hills in 2011. With major orders in hand worth Rs 250 crore, the company was operating from 18 locations in the Telugu states in 2022. While the firm was flourishing, Venu appointed Balaji Utla as CEO in 2015. By the end of 2017, Gopal, Raj, Ravi and Naveen had joined as part-time directors. While Venu held 60% of the shares, Balaji had 20%, leaving Gopal and Raj with 10% each respectively. Meanwhile, the Uttar Pradesh government in 2018 invited bids for non-emergency mobile healthcare clinics. Kria decided to participate in the bidding process.
Meanwhile, the four part-time directors insisted that Venu resign and sell his shares at a lower value. They allegedly took the support of Balaji in threatening Venu for the transfer of shares.
While Venu was not on good terms with the part-time directors, his neighbour, Chandrashekar Vege, managing director of Goldfish Adobe Private Limited, who is in the construction business, approached him with an interest in investing in his healthcare company.
Vege strategically proposed the idea of making him a shareholder by selling Venu’s four lakh shares. While the market value of the shares was Rs 40 crore, Venu sold it for just Rs 40 lakh. Vege assured him that he would turn the part-time directors in his favour later.
Later, upon finding out that Vege cheated him, Venu lodged a complaint with the police. But, there was no action from the authorities.
In the meantime, the part-time directors along with Vege approached former DCP Radha Kishan and hatched a plan to kidnap the firm founder, the complaint stated. Later, Venu was kidnapped by police in plain clothes on November 22, 2022, it added. He said they refused to show their identity cards and took him away, apart from disallowing him from using his mobile phone to inform his family members.
As per the complaint, Venu was abducted, with assistance from Radha Kishan, while he was on his way to pick up a friend for golf. The kidnappers released Venu at midnight on the same day. During his captivity, Venu was allegedly manhandled, threatened and coerced into resigning as director and forced to sell his remaining shares too, the complaint said.
Venu, in his complaint, said: “During the captivity, I messaged my lawyer, Srinivas, about being kidnapped by the police. My advocate replied that we would handle it in court. I then contacted my friend Sanjay, owner of Lahari Resorts, who reached out to the DGP’s office. A call from the DGP’s office to CI Gattu was answered by Radha Kishan, who mentioned following orders from higher up. Sanjay called me back, suggesting that there were allegations against me involving money laundering and terrorism. Understanding the gravity, I assured Sanjay that I would handle the situation. The Sl, who was by my side, prompted me to affirm that all was well and it was merely a discussion, which I relayed before hanging up”.
Venu stated that Radha Kishan conveyed that no external help would suffice and threatened him by hitting him with weapons to sign the agreement drafted by Gattu Mallu and Mallikarjun. After he signed the documents, he was reminded not to approach the court or the media. He added, “I state that in December 2018, Chandrasekhar Vege owed me four lakh Kria shares, valued at Rs 40 crore. The face value of each share is Rs 10. Vege delayed repayment despite only seeking Rs 3.5 crore for a 40% stake, citing personal issues. In March 2019, Vege offered me a position in Goldfish and also promised to pay the dues. During my tenure at Goldfish, from April to December 2019, I uncovered legal issues and staff misconduct, prompting my departure. Later, Vege admitted that he was part of the kidnapping along with DCP Radha Kishan and the four part-time directors. Vege received an extra Rs 10 crore from Kria’s part-time directors for double-dealing.”
Now with the arrest of Radha Kishan, Venu felt safe and approached Jubilee Hills police with his petition and requesting action against the three cops, Vege and the four part-time directors.