Cyberabad: Sai Surya Developers owner arrested for cheating Rs 1.45 crores in the guise of selling plots

Hyderabad: The Economic Offences Wing (EOW) Police of Cyberabad arrested a person, who was allegedly involved in forgery, cheating and conspiracy and collected Rs 1.45 crores from customers in the guise of selling plots in fabricated and unauthorised layout at Vattinagulapally village and thereby he did not fulfil his promise.

Disclosing the case details, DCP EOW, Cyberabad K Prasad said that the accused was identified as Kancharla Sathish Chandra Gupta, proprietor of Sai Surya Developers. He is a resident of Raidurgam, Hyderabad and a native of Nellore district, Andhra Pradesh.

Case details

The DCP said that Sathish Chandra Gupta and another accused Narender Surana, managing director of Bhagyanagar Properties Limited. The accused persons hatched a plan and created a fabricated, unauthorised layout in the names of Sai Tulasi Enclave-IV and Shanmukha Nivas on the same land at Vattinagulapally.

The duo made an agreement of sale for a plot for Rs 3,25,00,000 and collected Rs 1,45,00,000 as advance in February 2023, from the complainant Pothuganti Gopal Reddy, a resident of Nacharam Hyderabad. After collecting the money, the duo escaped without registering the plot and cheated the complainant. Previously, Sathish Chandra Gupta has been involved in 11 criminal cases with the same modus operandi and collected crores of rupees from innocent people, he said.

A case has been registered under sections 420, 406, 467, 468, 471, r/w 120 (B) IPC of EOW PS, Cyberabad, the DCP said.

Public advisory

The Cyberabad EOW Police advised the public to be aware of unauthorised layouts and not to fall victim to fraudsters and cheaters. The department is committed to prosecuting the accused and ensuring justice for victims.