An 86-year-old industrialist from Hyderabad, Velamati Chandrasekhara Janardhana Rao, was fatally stabbed at his residence, allegedly by his grandson, following a dispute over property distribution, police reported on Monday.

The altercation erupted after a heated argument between Rao, the chairman of Veljan Group, and his 29-year-old grandson, Kilaru Keerthi Teja. According to reports, Teja confronted his grandfather over what he believed was an unfair share of the family’s assets, despite receiving Rs 4 crore as part of the ancestral property.

The situation escalated rapidly, resulting in Teja stabbing his grandfather nearly 70 times. During the attack, Teja’s mother, Sarojini Devi, attempted to intervene but was injured in the process. She was immediately taken to a hospital and is currently undergoing treatment.

Teja, who had recently returned to Hyderabad after completing his master's degree in the United States, was visiting Rao’s residence with his mother when the violent confrontation took place.

Police have arrested Teja, and an investigation is ongoing to determine further details surrounding the incident.

Janardhana Rao was a prominent figure in the industrial sector, known for his contributions in shipbuilding, energy, and industrial applications, as well as his philanthropic efforts.