Hyderabad: A financial dispute over share market investments turned fatal after a man allegedly stabbed the father of an investor in Chilakalguda on Tuesday night.
According to police, Mohd Nizamuddin, 36, of Bholakpur in Musheerabad, had known Suman, a resident of Namalagundu in Chilakalguda, for several years. Suman allegedly collected around Rs 50 lakh from Nizamuddin on the promise of investing the money in share market trading.
Police said Suman subsequently failed to repay the amount and allegedly went absconding. Unable to trace him, Nizamuddin allegedly decided to confront his family.
Victim Stabbed Twice in Abdomen
At around 8 pm, Nizamuddin allegedly approached Suman’s father, Srinivas, 56, near Evergreen Tent House at Mylargadda.
Police said Nizamuddin allegedly attacked Srinivas with a knife and stabbed him twice in the abdomen. The victim suffered severe bleeding and was rushed by locals to TGSRTC Hospital.
Despite receiving treatment, Srinivas succumbed to his injuries later.
Following the incident, Chilakalguda police detained Nizamuddin and began an investigation into the circumstances surrounding the attack.
Police are also examining the alleged financial dispute and the circumstances that led to the confrontation. The investigation is underway.
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