Hyderabad: A private financier from the city has alleged that Livewell Healthcare managing director Dr Uday Kumar Rachakonda has not repaid a huge loan he had taken years ago.
Dr Uday Kumar is undergoing treatment at a hospital after he was allegedly shot by Dr Shashi Kumar who committed suicide on Monday.
According to inside sources in the company, Livewell Healthcare was incorporated in November 2011 with an authorised capital of Rs 7.7 crore. In order to float the company, Dr Uday Kumar and his partner Dr A.M.V Sai Kumar borrowed a huge amount from financiers and promised to start repayments soon.
“Dr Uday Kumar, his wife Mayuri and Dr Sai Kumar were the first three directors,” said the source.
Financier E. Suresh told the media on Wednesday: “Dr Uday Kumar has not repaid the money. I have been trying to meet him since six months but he avoids me. He changes SIM cards to escape me." He did not reveal the loan amount.
Sources added that the financial dispute had reached a Telangana minister. “They went to a minister seeking his intervention but the matter was not settled,” said the source. Sources said that Dr Shashi Kumar was appointed as one of the directors in September 2014 along with another investor named Adapa Sridevi. As the company was running up losses Dr Shashi Kumar wanted to pull out his money in 2015.
“He was disturbed at the way things were going on. He was harassed by these people,” said Dr Shashi Kumar’s wife Kanti. The plan for the 120 bed Laurel Hospital at Madhapur materialised after the promoters received Rs 30 crore from Exhilway Global Opporunities Private Equity Fund. They decided to spend around half of the money to set up a hospital in Guinea in West Africa and the rest on Laurel Hospital. They also received crores from various investors, sources said.
Dead doc’s claim false, says police
The claim of Dr P. Shashi Kumar, who wrote in his suicide note that his colleague Dr Sai Kumar had shot at Dr Uday Kumar, was refuted by the police on Wednesday. Senior officials who examined the declaration of Dr Uday Kumar who is in hospital, and the testimony of Dr Sai Kumar, stated that it was Dr Shashi Kumar who had fired the shot. They said the financial issues raised by Dr Shashi Kumar were being investigated.
“The pellets collected from the body of Dr Uday Kumar have been sent to the forensic lab. We have taken the testimony of Dr Chandrakala, who dropped Dr Shashi Kumar to her farmhouse,” said DCP V.B. Kamalasan Reddy. The Moinabad police, which is investigating the Dr Shashi Kumar suicide case, said it was clearly a suicide and they have not found anything that suggests a murder so far. Narayan-guda police said they would close the attempt to murder case against Dr Shashi as he is dead.
"Since the doctor is dead, we have to close the case which was booked under IPC Section 307," said Narayanguda police inspector S. Bheem Reddy.
Briefcase, car missing: Shashi’s wife
Dr P. Shashi Kumar’s wife Kanti has alleged that her husband’s briefcase and car were missing and doubted the events reported by the police. “The briefcase contains documents of his business and signed cheques. He had around Rs 40,000 with him when he left home on Monday. Both his car and suitcase are missing,” said Ms Kanti
“He mentioned five names in the suicide note stating they had cheated him. The police is not investigating that. They are saying the case will be closed soon. We seek justice,” Ms Kanti said.
When asked about her husband’s weapon, Kanti said that guns were his passion. “He also wanted the revolver for self defence,” she said. The doctor's family is yet to come out of the shock.
Dr Shashi Kumar left home on Monday at 3 pm, “He got a call for a meeting. He took all business documents in the briefcase and left,” she said. Who handles administrative matters at the hospital Dr Shashi Kumar used to run: Sai Nikith Specialty Hospital and Laparoscopic Centre in Chaitanyapuri.
Ms Kanti said she had come to know about the Himayatnagar firing on Monday evening from a friend. "I could not contact him after that. I came to know about the suicide in the morning," she said
