HYDERABAD: The victims, who invested in Sahiti Infra Tech, for purchasing flats at different places in the city, on Sunday performed 'homam' at Madhapur for
their properties and demanded the government to interfere and render justice
to them. Sahiti Infra, which collected huge amounts from customers, did not
deliver properties.
Kartikeya Panorama Buyers Association president Srinivas Reddy said that
around 150 customers, who had paid for residential flats, participated in
the ‘homam' at Guttala Begumpet in Madhapur.
Meanwhile, officials from Enforcement Directorate (ED), who conducted raids
on Sahiti Infra Tech, a construction company based in Hyderabad and
Vijayawada verified the bank accounts of the firm suspecting money
laundering activities.
Reportedly its managing director B. Laxminarayana collected ₹400 crores from
1,500 customers towards residential and commercial projects in Hyderabad. ED
officials have seized documents related to the business activities of Sahiti
Infra.
The investigation agency suspects that Sahiti Infra management invested
funds in open lands in and around Hyderabad and transferred them in the name
of real estate companies.
