By Sumesh Rajan | November 10, 2025
Bengaluru, Karnataka, INDIA: In a chilling case of betrayal and greed, Bengaluru police have arrested a 40-year-old businessman who allegedly murdered two of his close friends for money after suffering huge financial losses during the Covid-19 pandemic.
The accused, Ravi Prasad Reddy, a former grocery chain owner from Hebbagodi, reportedly incurred losses of nearly ₹5 crore after his investments in chit funds and loans to over 60 people went bad during the pandemic. With his fortunes wiped out, Reddy turned from a successful entrepreneur to a vegetable vendor — and eventually, to a cold-blooded killer.
Financial Ruin and a Descent into Crime
According to police, Reddy once owned a successful grocery chain called Happy Family Stores, launched with financial help from his uncle. He had made healthy profits and invested heavily in chit funds while lending money to friends and acquaintances. However, the Covid-19 lockdowns proved disastrous. Many of his debtors either died or left the city, leaving him unable to recover his funds.
To stay afloat, Reddy sold his house and land near Hebbagodi for ₹2 crore and leased out his stores to relatives. Despite these desperate measures, he continued to struggle financially. His wife and two children eventually went to live with his uncle, while Reddy moved into a rented house owned by one of his later victims, Balappa Reddy (61), who ran a metal fabrication unit.
Police said Reddy also brought two aides, Dhanush and Sateesh, from Andhra Pradesh to assist him in a small vegetable vending business.
Murder for Money
Investigators said Reddy grew resentful toward two of his close friends — R. Madesh (41), a tea shop owner involved in chit funds, and Balappa — because they refused to lend him money when he was in dire need. Consumed by anger and desperation, he decided to kidnap and rob them, inspired by crime movies depicting ransom plots.
“He told us that films showing kidnappings for ransom gave him the idea,” said Deputy Commissioner of Police (Electronics City Division) M. Narayana. “He planned the crimes for about three months, purchasing an air pistol, knives, and even a metal detector — the latter, he claimed, to search for hidden treasures.”
The Murders
Reddy first targeted Madesh on November 4. Knowing that Madesh was building a new house and had around ₹10 lakh in cash at the site, Reddy entered the under-construction home and threatened him at knifepoint. When Madesh resisted and tried to escape, Reddy chased and fatally stabbed him. Hearing neighbours rush out, he fled on his scooter.
Two days later, when police had not connected him to the murder, Reddy decided to strike again. Borrowing a multi-utility vehicle (MUV) from an advocate friend, he drove to Balappa’s factory, lured him into the car on the pretext of a business discussion, and took him towards Hosur. There, Reddy demanded money; when Balappa refused, he attacked him with the same knife.
After killing Balappa, Reddy brought the body back to his Hebbagodi home, transferred it to his goods autorickshaw, and later dumped it in a forested area along the Hosur highway.
Arrest and Investigation
Police traced Reddy after questioning the victims’ families about their financial contacts. Special teams from the Central Crime Branch (CCB) and Hebbagodi Police zeroed in on him. He was arrested on Saturday afternoon from a bar near his home.
During a spot investigation at a burial ground in Bommasandra later that night, Reddy allegedly tried to attack police personnel and was shot in both knees in self-defense. His associates, Dhanush and Sateesh, were taken into custody for questioning.
Police are also investigating the involvement of Reddy’s elder sister, Sunanda, who was allegedly present in the vehicle during Balappa’s abduction. She remains under the scanner.
“They Refused to Help Me”
Police quoted Reddy as saying he felt betrayed by his friends. “I helped them when I was doing well, but when I was in trouble, they refused to help me. That made me hate them,” he reportedly confessed.
Bengaluru City Police Commissioner Seemanth Kumar Singh said, “We intensified our probe and, based on financial links provided by the victims’ families, formed special teams to track down the suspect. The case is now being investigated from all angles, including whether the accused owed money to the victims.”
What began as a tale of financial misfortune has now ended in a double murder — a grim reminder of how desperation, debt, and distorted inspiration can push a man to commit the unthinkable.
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