The realtor had promised to pay Rs 5 lakh in 2000 denomination for Rs 4.5 lakh in 500 denomination. As the realtor had taken Rs 4.5 lakh and refused to give the promised Rs 5 lakh to the bankers, they beat him to death near Eachanari.
This incident occurred after Satish, the manager of Axis Bank, told the realtor that 2000 denomination currency notes are going to be banned.