ED searches properties of Sahiti Infra: PMLA cases

HYDERABAD: Enforcement Directorate officials, who registered cases under the Prevention of Money Laundering Act against Sahiti Infra Tech and its management, conducted raids on the office premises and residence on Saturday.

The raids were carried out at eight different places in Hyderabad and other locations as Sahiti Infra has taken up construction projects in Vijayawada.

The firm is accused of duping hundreds of customers by collecting around ₹400 crores on the pretext of pre-launch of construction projects, although they failed to deliver properties to customers.

The officials also conducted raids at the residence and offices of its managing director B. Lakshmi Narayana at Jubilee Hills. As per the preliminary probe, they found that Sahiti Infra Tech indulged in land business activities with other real estate companies in the city.

The Hyderabad CCS police have registered a number of cases in connection with the offences.

The company’s ongoing commercial projects are at Mogalrajpuram in Vijayawada, Nanakramguda, N Convention and Kokapet in Hyderabad and residential projects in Ameenpur, Pragathinagar, Patrikanagar, Kompally, Shamirpet and other places.