Police file chargesheet in 19 Sahiti Infratech cases; 2,500 victims lost Rs 3,000 crore

Hyderabad: Central crime station sleuths have filed a chargesheet against 13 accused in 19 cases registered against Sahiti Infratech Ventures India Pvt Ltd in 2022. CCS had taken up investigation into a total of 57 cases against the company and its directors, and supplementary chargesheets will be filed in the remaining cases after the completion of the probe.On Monday, a team led by ACP KM Kiran Kumar, under the supervision of DCP N Swetha, filed a 155-page chargesheet, citing 294 witnesses, before the metropolitan sessions judge in Nampally. The chargesheet pertains to the lead case registered at CCS on Aug 1, 2022, and 18 other cases re-registered by CCS in connection with the Sahiti Sarvani Elite project at Ameenpur.
The accused named include Sahiti Infratech Ventures, its chief managing director B Laxminarayana, his wife and director B Parvathi, their son and director B Satvik, and marketing director S Purnachandra Rao, among others. The case was initially registered on Aug 1, 2022, following complaints from victims who alleged that they were cheated through pre-launch offers for a real estate project in Ameenpur. Subsequently, several similar complaints were lodged at police stations in Sangareddy, Hyderabad and Cyberabad. All these cases were later transferred to CCS and re-registered. According to police, the accused proposed the Sahiti Sarvani Elite project over 23 acres with 11 towers of 33 floors each. "The accused came up with a pre-launch offer in 2019, luring victims with a price of Rs 2,200 per square foot when the market price was nearly double. About 1,200 victims lost Rs 506 crore," a CCS investigator said. Pre-launch depositsPolice said a similar modus operandi was used to collect pre-launch deposits for 16 more ventures in areas including Madhapur, Bachupally, Kompally, Tellapur and Nallagandla in Hyderabad, and at two locations in Vijayawada. At present, 36 cases linked to these projects are under investigation. "Put together, about 2,500 victims have lost nearly Rs 3,000 crore in 17 real estate projects," the investigator said. Police informed the court that supplementary chargesheets would be filed in the remaining 36 cases after investigation. So far, 55 properties linked to the accused have been attached.