The accused forced the officials to send emails to their employees saying they have resigned.
A 27-year-old man allegedly posed as a VIP and took over a city-based software company after threatening the firm's two directors, police said. The Cyberabad police have arrested two persons, including the prime accused, Vamshi Rao, and the IT company's project manager, Vamshidhar.
Two job seekers had recently approached Rao and told him that they paid Rs 1.5 lakh to the company for jobs. However, when they were unable to get the jobs despite paying the money, they decided to seek a refund and to pursue it with the company, they approached Rao, the Cyberabad police said in a release issued yesterday.
Rao, in a bid to make some easy money, then approached the company's office by impersonating as a 'Very Important Person' (VIP), the release said.
Last week, he visited the firm's premises by arriving in a vehicle with a blue beacon and then held discussions with the two directors, it said. He then allegedly threatened the directors with a gun and demanded Rs 10 lakh from them to settle the issue. The directors paid him Rs 5 lakh, the police said.
Later, Vamshidhar and two of his friends colluded with Rao. They allegedly took over the company and got hold of its accounts by confining the two directors in the office, the release said.
The accused then forced the two officials to send emails to their employees, stating that they have resigned from their jobs and that Rao and Vamshidhar are the new directors, the police said.
Following a complaint, the police lodged a case and yesterday arrested Rao and Vamshidhar. Their other two accomplices are absconding, the police said. The accused were booked under IPC sections 420 (cheating), 342 (wrongful confinement) and relevant sections of the Arms Act, police said, adding that an investigation was on into the case.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)