Hyderabad: Who is Sandhya Rani, accused of Rs 73 Cr financial fraud

Hyderabad: Cyberabad police Economic Offenses Wing (EOW) has booked Kukatpally-based entrepreneur M. Sandhya Rani and her associates for allegedly duping investors of over Rs 73 crore through shell companies, forged documents, and false promises of high returns.

This marks the third major cheating case against her in recent weeks, with investigators describing her as the kingpin of a large financial fraud network. Sandhya Rani is currently in judicial remand.

Victim’s complaint

Complainant Kavitha Dhannamaneni (42) of Gachibowli told police that Sandhya Rani, who runs Sri Sai Ram Enterprises, persuaded her and her friend D. Pranitha to invest between June 2023 and August 2025.

At first, she allegedly built trust by paying small profits on modest investments. Later, she encouraged them to borrow from friends and relatives to bankroll “purchase orders” purportedly from hospitals, apparel firms, and schools.

The money was routed through four shell firms and finally siphoned into 13 beneficiary accounts. The victims said they recovered Rs 5.8 crore, but even that was reinvested under pressure when Sandhya Rani allegedly showed forged documents of new business deals.

Threats at Kukatpally Office

The complaint further states that on July 28, 2025, when Kavitha and Pranitha demanded a refund of their invested capital of Rs 73.17 crore, they were threatened at the accused’s Kukatpally office.

Those present included Sandhya Rani, her husband Sridhar, son Koushik, associates Ramdas and Subbaraju, along with hired muscle.

“We did not ask for interest, only our invested amount. They refused and threatened us, claiming political and financial influence,” Kavitha alleged.

Trail of Cases

Police records reveal a chain of fraud cases against Sandhya Rani:

Aug 22: First case registered; she and associate Ramdas arrested on Sept 1.

Sept 16: Second case filed for allegedly duping victims of Rs 41.9 crore.

Sept 20: Latest case involving Rs 73.17 crore fraud filed by EOW.

Other accused in the cases remain absconding, police confirmed.

Police Action

The EOW has invoked provisions of the Bharatiya Nyaya Sanhita (BNS) and the Telangana Protection of Depositors of Financial Establishments Act.

“We will move a petition seeking custody of Sandhya Rani and Ramdas in the fresh cases for further investigation,” an EOW investigator said.

Background

Sandhya Rani’s modus operandi, police said, revolves around floating private companies, forging purchase orders, and luring investors with the promise of high returns. After gaining initial trust by paying small profits, she would escalate the scheme, eventually siphoning off large sums.

Investigators suspect the funds were diverted for personal enrichment and political lobbying. With three cases now in court, authorities are bracing for more victims to come forward.