Hyderabad: Sri Sai Ram Enterprises partners held for siphoning off Rs 73 Cr through forged work orders
The money was misappropriated and diverted to the personal accounts of the accused
By Newsmeter Network
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Hyderabad: Hyderabad Central Crime Station (CCS) police have arrested two partners of a Kukatpally-based garment company, Sri Sai Ram Enterprises, for allegedly siphoning off Rs 73 crore from a city-based investor through forged work orders and falsified documents.
Arrests and Judicial Remand
The police took M. Sandhya Rani, managing partner of Sri Sai Ram Enterprises, and her associate Yamarthi Ramdas into custody. Both were produced before a local court and remanded to judicial custody while investigators continue to track other suspected conspirators.
Complaint triggers investigation
The action follows a complaint by V. Sreekanth, partner at Touchstone Enterprises, Banjara Hills. He alleged that Sandhya Rani, her husband Namburi Sreedhar, Ramdas, and others forged purchase orders purportedly issued by educational institutions and apparel companies to present a picture of thriving business.
Lured by a profit-sharing proposal
Sreekanth said he was invited to inspect a four-storey garment unit in Kukatpally, where he was shown GST filings, vendor invoices, and work orders documents that later proved to be fabricated. “Convinced by promises of profit-sharing, we transferred Rs 73 crore between March 2024 and March 2025 via RTGS to multiple accounts,” he stated.
Funds diverted instead of business
According to the complaint, instead of being utilized for manufacturing, the money was misappropriated and diverted to the personal accounts of the accused and allied entities. “The payments were made on the strength of fake work orders; repayment was promised by the end of FY 2024-25 but never happened,” Sreekanth added.
Case booked under BNS Provisions
CCS police have registered a case under Sections 316(2) (criminal breach of trust), 318(4) (cheating and dishonest inducement), 336(3) & 338 (forgery for cheating/valuable security), and 340(2) (using forged documents) read with 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).
Investigators said they are analysing bank trails and gathering further evidence to identify all beneficiaries of the fraudulent transactions.
