Bengaluru: The Karnataka police on Wednesday nabbed three accused for allegedly murdering the chief executive officer and the managing director of an IT firm in Bengaluru.

Slain R Vinu Kumar (40), hailing from Rukmini Vilasam house at Panachikkad in Kerala's Kottayam district, was the CEO of the internet services company Aironics Media.

The other victim Phanindra Subramanya (36) was the managing director of the firm.

The incident that shocked the city took place at around 4 pm on Tuesday.

The accused, armed with daggers, barged into the Aironics office at Pampa Extension, Amrutahalli. They  attacked Subramanya and Kumar who came to rescue, in the presence of other employees, before fleeing the spot, police said.

Aironics was functioning from a house converted into an office building. Both persons died on the way to the hospital, according to the police.

Tthe main accused Felix is a former employee of Aironics, police said, who had quit to form his own company, a rival business.

He is reportedly active on social media with a good number of followers.

Stating that the motive behind the murders is yet to be established, a police source said they suspect business rivalry could be one of the reasons.