One of the top Surgeon of Hyderabad fired himself at his former colleague and partner following a row over investments in a private hospital they are setting up in the city. The incident took place at 4.30 pm on Monday in Himayatnagar area of the city. Though he shot at point-blank range, Dr. Uday Kumar Rachakonda had a miraculous escape the bullet grazed his left ear, and he is recuperating at Apollo Hospital.
The Police said that the accused, Dr. Shashi Kumar, had fired from his licensed revolver. He is yet to be apprehended.
According to police, the duo had met a third partner Dr. A M V Sai Kumar, also an anesthetist to discuss about Laurel Hospital, which they were starting in Madhapur. Uday Kumar and Sai Kumar are promoters of Livewell Healthcare Private Ltd, a promoter of specialty hospitals. They had involved in setting up a 120-bed Hospital.
A portion of the hospital was inaugurated on January 1 but has run into heavy losses. Shashi Kumar, who runs another hospital in Chaitanyapuri, had invested Rs 75 lakh in the new venture. Uday Kumar and Sai Kumar had invested Rs 3 crore and had got private equity funding from Exhilway Global Opportunities Private Equity Fund.
Rachakonda was the managing director of the Rs 25-crore project and Sai Kumar the CEO, Shashi Kumar, a senior surgeon, was only a director. Police said disagreements and misunderstandings began when the MD and CEO teamed up to bring in NRI investors and made them directors, gradually edging out Dr. Shashi Kumar.
The latter began asking the duo to return Rs 75 lakh he invested. On Monday afternoon, the three first met at a restaurant and later went out to a quieter place in Dr. Rachakonda’s car. A huge argument soon followed, and Shashi Kumar, who was sitting at the back, took out his revolver and fired one round, the police said. Before another shot could be fired, Rachakonda got off and fled.