Hyderabad: CCS files chargesheet in ₹3,000 Cr Sahithi Infra real estate scam
The company allegedly issued pre-launch offers without obtaining mandatory approvals
By - Newsmeter Network
Hyderabad: Hyderabad Central Crime Station (CCS) has filed a chargesheet in the Rs 3,000 crore Sahithi Infra real estate scam.
The chargesheet was submitted before the Nampally court, marking a major step forward in the long-running investigation into one of the city’s biggest property-related frauds.
Fraud alleged in high-rise projects
According to investigators, Sahithi Infra, headed by its Managing Director Bhoodati Lakshminarayana, lured investors by advertising high-rise residential projects in Ameenpur of Sangareddy district.
The company allegedly issued pre-launch offers without obtaining mandatory approvals from the GHMC or RERA, and in some cases, even without acquiring ownership of the land.
₹3,000 crore collected from investors
The police stated that between June 2019 and 2022, the company collected thousands of crores of rupees from nearly 3,500 investors by promising the timely completion of multiple ventures. However, the projects failed to take off as promised, triggering widespread complaints from buyers.
Victims approach Police and Courts
In August 2022, around 240 aggrieved investors lodged complaints at police stations across Medak, Sangareddy, Cyberabad, and Hyderabad commissionerates.
Some victims also approached the High Court, following which the judiciary directed the Hyderabad police to conduct a detailed probe into the matter.
Clubbed chargesheet for 19 cases
Following the investigation, the Hyderabad City Crime Squad filed a clubbed chargesheet covering 19 cases before the Nampally Court, ACP K.M. Kiran Kumar said. The chargesheet names 13 accused so far.
Arrests made, accused on bail
The CCS arrested the company’s directors between December 2022 and March 2023. All the accused are currently out on bail, police confirmed.
Further Probe Underway
Police said further investigation is continuing under the supervision of DCP (Crimes) N Swetha. Additional chargesheets are expected to be filed within the next two to three months, as investigators work to complete the remaining aspects of the case.
