3 sentenced to 3 years in jail for property fraud

On 3 November 2009, the Adibatla police received a complaint from K. Venkata Ramana (70), a resident of Nadergul in Saroornagar mandal. She said that her son, K. Satya Sai who lives in the US, wanted to buy properties in Hyderabad.

By Newsmeter Network  Published on  1 July 2022 1:53 PM GMT
3 sentenced to 3 years in jail for property fraud

Hyderabad: Three persons were sentenced to three years imprisonment on 1 July in a cheating and misappropriation case.

On 3 November 2009, the Adibatla police received a complaint from K. Venkata Ramana (70), a resident of Nadergul in Saroornagar mandal. She said that her son, K. Satya Sai who lives in the US, wanted to buy properties in Hyderabad.

K. Kalpana Pual (45) of Bahadurpura in Hyderabad approached Mrs. Ramana and told her she had a general power of attorney (GPA) on two separate properties located at Nadergul village under Saroornagar mandal. She said the properties were owned by Raghu Veera Reddy (42) and Shivaji (46).

Raghu and Shivaji assured Mrs. Ramana that there were no adverse encumbrances pertaining to the properties and confirmed that Kalpana is the GPA holder of the said properties.

Mrs. Ramana agreed to pay Rs. 8.80 lakhs and Rs. 9.57 lakhs for the two properties and two registered sale deeds were executed at the registrar of RR district in favour of her son.

Meanwhile, on 17 September 2009, officials of SBI Abids wrote on the walls of the two properties stating that they are under equitable mortgage. Mrs. Ramana confirmed with the banks and contacted the accused persons who accepted their misdeeds and promised to hand over the original documents by 30 September. However, they failed to do so and issued a cheque for the pending loan amount which could not be honoured due to insufficient funds.

Based on the complaint, a case was registered at the Adibatla police station. They arrested the three accused and during the trial held on 1 July, an Ibrahimpatnam court convicted Raghu Veera Reddy, Shivaji, and Kalpana Pual to undergo three years imprisonment and imposed a fine of Rs. 20,000 each.

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