Loan Dispute Turns Deadly: Financier Murdered Over Rs. 40,000 in Kazipet
Hyderabad, June 28 (Maxim News): A shocking murder over a financial dispute has rocked Kazipet, as a financier was brutally stabbed to death following an argument over an unpaid loan of ₹40,000.
The incident occurred late Friday night at the Kazipet Railway Quarters, where the deceased, Gaddam Naveen Kumar, a resident of Warangal, had reportedly gone to collect a long-pending loan amount from Praveen Kumar, a local resident.
According to Kazipet police, a heated confrontation broke out between the two when Naveen demanded repayment. In a sudden fit of rage, Praveen Kumar allegedly pulled out a knife and stabbed Naveen multiple times, leading to his death on the spot.
The police were alerted shortly after the incident. Naveen’s wife, Madhavi, filed a formal complaint, and the Kazipet police have registered a murder case under relevant IPC sections. A manhunt has been launched to apprehend the accused, who is believed to have fled the scene.
Investigation Underway
A police official said, “We are examining CCTV footage in the vicinity and have deployed special teams to trace the accused. A preliminary investigation confirms that a personal loan dispute was the motive behind the murder.”
The body has been shifted to a government hospital for postmortem, and further inquiries are ongoing.
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