The murder case of NRI industrialist and Coastal Bank chairman Chigurupati Jayaram is under investigation.

According to the reports, the murder plan was hatched by Jayaram's niece Shikha Choudhary and executed by her boyfriend Rakesh Reddy.

Officials investigating the case said that financial disputes might have been the reason for the murder of Jayaram, who borrowed Rs 4.5 crore from Rakesh Reddy and had a dispute over the same in the last few months.

The police have already taken Shikha Chowdary and Rakesh Reddy into custody for questioning. In the guest house of Ramco Cement Company in Jaggayyapeta, SP S Tripathi held interrogation for Rakesh and Shikha Chaudhary separately. Police are investigating into the reasons for murder and a clarification on any other person's involvement in the case.

Using Jayaram’s mobile call data, the police retraced his movements prior to his death and found that he was confined to a house in Jubilee Hills, Hyderabad for almost 30 hours between January 30-31.

As per the reports, Jayaram was taken away in a car on January 31 by Rakesh and was injected with a dose usually given to dogs. Police suspect that he was killed in the outskirts of Hyderabad, but it was attempted to be portrayed as if his death was caused in a road accident near Nandigama. The Krishna district police is likely to report the case to the media on Monday.

The body of Jayaram was found lying in a pool of blood in the back seat of a car near the Hyderabad-Vijayawada national highway at Aitavaram village, near Nandigama Mandal in Andhra Pradesh last Thursday.

Reliable sources have claimed that Jayaram was against Shikha's marriage with Rakesh Reddy. At the same time, a dispute took place between Shikha and Jayaram in connection to the company transactions as it was found that Shikha was involved in forging signatures on checks which established a huge turnover worth crores.

Also Read: New Twist To NRI Jayaram Murder Case