New Case Filed Against Sahiti Infra and Owner Over Alleged Fraud
HYDERABAD: Another case has been filed against Sahiti Infra and its owner B. Laxmi Narayana following a complaint by a victim of their default on Friday with the city Central Crime Station (CS) police. Sahiti Infra’s marketing director Sandu Purna Chandra Rao, Laxmi Narayana’s wife Varada Baby Swati and her father Varada Rama Rao have also been listed as accused.
M. Rakesh and his father M. Bala Narasimhulu stated in the complaint that booked had a villa in the Alpine Vistas project by paying `10 lakhs to Purna Chandra Rao in September 2018. When they asked for the sale agreement, Purna Chandra Rao advised them to invest in the Sahiti Swada project at Nanakramguda. The victims purchased a 2,000-sq. ft property for `1.5 crore.
Upon completing the payment in 2021, they again asked for a sale agreement but Laxmi Narayana kept postponing it.
Rakesh later said that they learnt that Purna Chandra Rao had diverted the money for his use. They discovered that Laxmi Narayana had acquired funds in a similar way from hundreds of people, and used the money to purchase properties on the names of his wife Varada Baby Swathi and his father-in-law Varada Rama Rao.
Sahiti Infra amassed over `1,100 crore and allegedly cheated more than 1,000 victims, with multiple projects in Nanakramguda, Kompally, Gachibowli, Nizampet, Bachupally and Mokila.