Advocate Nagurbabu N: The Legal Force Behind the Arrest of Interstate Criminal K. Lakshmikanth Reddy in the ₹2 .21 Crore Gold Scam Case

Hyderabad | July 31, 2026: High Court Advocate Nagurbabu N has once again demonstrated his commitment to securing justice for victims of financial fraud through persistent legal action. His relentless pursuit of justice led to the arrest of K. Lakshmikanth Reddy, an accused with multiple criminal cases and producer of the upcoming film "LAFOOT GANG," in connection with an alleged ₹2.21 crore gold investment scam. Following his arrest by the Central Crime Station (CCS), Hyderabad, the accused was produced before the XII Additional Chief Judicial Magistrate, Nampally, which remanded him to 15 days of judicial custody for further investigation.

The case originated from a complaint lodged by Mr. Rakesh Balaram Goud, who alleged that he was induced to invest ₹2.21 crore after being promised the supply of 24-carat gold biscuits at prices substantially below the prevailing market value. According to the complaint, after collecting the investment amount, the accused failed to supply the promised gold or refund the money. Instead, when repayment was demanded, the complainant alleged that he was subjected to intimidation, threats, and coercion.

When the initial complaint failed to receive effective action, Advocate Nagurbabu N approached the Telangana High Court by filing Writ Petition No. 4220 of 2026, seeking judicial intervention. During the proceedings, it was brought to the notice of the Court that, considering the magnitude of the alleged cheating involving ₹2.21 crore, the matter had been entrusted to the Economic Offences Wing (EOW), Central Crime Station (CCS), Hyderabad, for a comprehensive investigation. The High Court proceedings ensured that the investigation was handled by a specialised agency experienced in dealing with complex economic offences.

Acting on the investigation, the CCS registered Crime No.147/2026 under Sections 111(2)(b), 111(3), 111(4), 318(4), and 351(2) of the Bharatiya Nyaya Sanhita, 2023. Investigators collected documentary and electronic evidence, examined witnesses, and recorded detailed statements before arresting the accused on 27 July 2026.

According to the remand report submitted before the Court, custodial interrogation is essential to trace the money trail, identify other persons involved, recover the proceeds of crime, and investigate the organised nature of the alleged fraudulent operation.

The remand report further states that the accused allegedly operated a fraudulent gold investment scheme by falsely claiming access to imported gold at discounted prices while promising extraordinary short-term returns. Investigators have also referred to allegations that victims who sought repayment were threatened and intimidated. Based on the evidence collected so far, the investigating agency is examining whether the offence forms part of a larger organised criminal network.

Significantly, the remand report also records that K. Lakshmikanth Reddy has been involved in six earlier criminal cases registered at various police stations across Telangana and Andhra Pradesh, namely:

Crime No. 189/2021 – Mahankali Police Station, Hyderabad.
Crime No. 728/2022 – Raidurgam Police Station, Cyberabad.
Crime No. 1049/2023 – KPHB Colony Police Station, Cyberabad.
Crime No. 1390/2023 – Madhapur Police Station, Cyberabad.
Crime No. 122/2024 – Koilkonda Police Station, Mahabubnagar.
Crime No. 411/2025 – Pendurthi Police Station, Visakhapatnam.

With the registration of the present Crime No.147/2026, the accused is now facing seven criminal cases in total. The investigating agency has relied upon this criminal history while opposing bail and seeking judicial custody, contending that the accused is likely to continue committing similar offences if released and that further custodial investigation is necessary to uncover the full extent of the alleged organised economic crime. The case stands as another significant example of Advocate Nagurbabu N's determined legal advocacy on behalf of victims of financial fraud. By invoking the constitutional jurisdiction of the Telangana High Court and ensuring judicial oversight of the investigation, he played a crucial role in securing meaningful investigative action that ultimately resulted in the arrest of the accused. As the investigation progresses, authorities are expected to examine additional victims, trace financial transactions, identify possible accomplices, and recover the alleged proceeds of crime. The outcome of the investigation will determine the full extent of the criminal liability of the accused in accordance with law.

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