Suvarnabhoomi Developers MD, GM booked for cheating over land sale
When the victims presented receipts of their payments, the staff members of Suvarnabhoomi denied any association with the company and claimed that the receipts did not belong to them.
By Newsmeter Network Published on 15 Jun 2023 10:02 AM GMT
Hyderabad: The Jubilee Hills police registered a case against the managing director and employees of Suvarnabhoomi Developers Pvt Ltd, following allegations that 21 individuals, including Putta Konda Rao from the film industry, who had made payments to the company to purchase plots.
According to the Jubilee Hills Police, Suvarnabhoomi Developers, on Road 5 in Jubilee Hills, started a project named Suvarna Kuteer in the Shadnagar area in 2017. Konda Rao, residing in Krishnanagar near Yousufguda, along with 21 others working in the cinema industry, allegedly paid amounts ranging from Rs 6 lakh to Rs 50 lakh to purchase plots in the venture.
Gangi Reddy Dastagiri, an agent of Suvarnabhoomi Developers, reportedly accompanied the buyers and showed them plots in the Suvarna Kuteer venture in Shadnagar, collecting payments from them for the plots. Subsequently, Suvarnabhoomi Developersā managing director, Bollineni Sridhar, general manager Praveen Kumar, executive director M Srinivas, and others allegedly accepted payments from the buyers in instalments.
The company had promised to register the plots in 2022 but failed to do so, causing delays. As a result, the victims approached the Suvarnabhoomi office in Jubilee Hills and demanded the registration of their plots or a refund of their money. However, the victims only received 20% of their money back from Suvarnabhoomi Developers so far.
When the victims presented receipts of their payments, the staff members of Suvarnabhoomi denied any association with the company and claimed that the receipts did not belong to them. Realising that they had been deceived, the victims lodged a complaint at the Jubilee Hills Police Station, leading to the registration of a case.
A case has been registered against Bollineni Sridhar, Praveen Kumar, M Srinivas, and Gangireddy Reddy.
The charges filed include sections 406, 420, 467, and 471, read with section 34 of the Indian Penal Code (IPC). The Jubilee Hills inspector, Raja Shekar Reddy, has confirmed that the case is currently under investigation.
