The duo was sent to remand, while a hunt is on to trace the other two suspects, according to the police.
Hyderabad: The Rachakonda police on Monday solved a major theft case and arrested two persons in Hayathnagar and seized Rs 10 lakh cash and two mobiles from them. The suspects have been identified as E. Upender Reddy, 27, of Hayathnagar and K. Yaka Swamy, 28, of Jangoan district. Two others, N. Satish Kumar and Krishna, are absconding.
Police said Upender Reddy, who used to work as a collection agent at a cement shop in Hayathnagar plotted to steal money from the owner. He had borrowed Rs 3.5 lakh from the owner, Gogireddy Prabhakar Reddy, and purchased two mini-lorries.
But when he failed to repay the amount, Mr Prabhakar Reddy pressurised him to repay the amount. He plotted the theft to repay the amount, police said.
On July 2, he along with his three associates entered the shop and looted '10.5 lakh from the locker.
Hayathnagar police who registered a case deputed teams to nab the suspects. Based on credible information, special teams nabbed two suspects and recovered Rs 10 lakh cash from them, while it was found that the suspects had spent Rs 50,000.
The duo was sent to remand, while a hunt is on to trace the other two suspects, according to the police.
