An 86-year-old Telangana-based industrialist was allegedly stabbed over 70 times by his grandson in Hyderabad's Panjagutta area, the police said on Sunday. The victim died due to his injuries.

The accused has been identified as 28-year-old Keerthi Teja, who brutally stabbed his grandfather, chairman & managing director of the city-based Veljan Group VC Janardhan Rao 73 times. "The accused also stabbed his mother when she tried to intervene and stop him, resulting in her sustaining injuries; she is currently undergoing treatment in a hospital. We have arrested the accused, Keerthi Teja, and he has been remanded," the police added.

Teja and his mother, who live in another part of the city, visited Rao’s house in Somajiguda on Thursday. While she went to get coffee, an argument broke out between Teja and Rao over the distribution of his property, police said.