Hyderabad: Seven people were Wednesday arrested here for allegedly burning pesticides worth Rs 10 crore at a godown here last month and for “stealing” pesticides to the tune of Rs 3.31 crore, police said.
On 23 September, S Yellareddy, a businessman, along with six others allegedly set afire pesticides at the godown of an agri-based company in Vanasthalipuram before committing theft of 1,173 boxes of pesticides material, a police release said.
Yellareddy, who was engaged in pesticide business with the company, opened 10 shops across Telangana and Andhra Pradesh states and ran into huge debts of about Rs 7 crore, it said.
Yellareddy bore a grudge against the company after he was supplied material worth only Rs 38 lakh for which he had paid Rs 50 lakh and planned to create loss to the company and also to overcome his debts by committing theft of stock from the godown, the release said.
Subsequently, the accused hatched a plan and allegedly poured petrol in the godown and set it ablaze with the help of the others, it said. They also allegedly stole pesticide material from it, the release added.