sahiti infra scam

In a relief for five homebuyers who had paid for flats promoted by scam-hit Sahiti Infra, the Hyderabad district consumer disputes redressal commission-3 ordered refund of the amount invested by the consumers along with a compensation of 50,000. The firm is under investigation by the police and Enforcement Directorate.

The Enforcement Directorate (ED) has attached properties worth Rs 161 crore of Sahiti Infratec Ventures India Private Limited and its managing director, B Lakshminarayan, in an alleged real estate scam. The ED initiated proceedings based on cheating cases registered by the Telangana police against Sahithi Infra. Sahithi Infra collected over Rs 250 crore from customers for its projects but allegedly defrauded them of Rs 248 crore. The ED investigation revealed that the firm paid Rs 32 crore to Omics International Limited for land development.

Telugu actor Jagapathi Babu faced questioning by the Enforcement Directorate for four hours regarding financial irregularities linked to Sahiti Infra, a real estate company. The investigation focuses on transactions between Babu and Sandhu Poornachandra Rao, a former director, with scrutiny of 15 years of bank statements and his involvement in a Vijayawada project.