Bhimavaram (Andhra Pradesh), Feb 17 (IANS): An abduction and threatening plot to retrieve Rs 3 crore from a debtor proved costly for the creditor at Bhimavaram in Andhra Pradesh's West Godavari district.

Kodandaram, a 39-year-old aquaculture businessman from the town, was abducted with the idea of threatening his family to cough up the debt amount, but the miscreants whom his creditor, Veeraswamy, hired proceeded further and murdered Kodandaram.

"The deceased person (Kodandaram) was supposed to pay Rs 3 crore to Veeraswamy. They negotiated the deal many times but it failed. So Veeraswamy thought of kidnapping Kodandaram to recover the money. But unfortunately, the hired goons murdered Kodandaram," a local police officer told IANS.

Incidentally, Veeraswamy hired the killers from one Rajamahendravaram for whom the police have launched a manhunt.

Police are on the lookout for four contract killers, against whom a case has been registered under IPC Section 302.

Kodandaram's body was found far away from his hometown near Aswaraopeta on the border of Telangana and Andhra Pradesh.

Kodandaram hailed from Balusumudi area in Bhimavaram, near Juvvalapalem Road. He is survived by his wife and two children.