ED arrests former director of Sahiti Infratec in multi-crore money laundering case

Haydarabad Zonal Office Executive Directorate (ED), M/S Sahiti Infratec Ventures India Pvt. Ltd. (Putroup) and the president of the sales and marketing team, in connection with a large -scale real estate fraud. On August 25, he was detained under the provisions of the Law Prevention of the 2002 land (PMLA) and the next day was produced in front of the private court in Nampally (PMLA). The court returned him to his judicial custody for 15 days.

The investigation stems from an oven against Sivipl by TaLangana Police against Sivipl, General Manager B. Lakshminarayan, and others are due to the adi pre -launch proposal ın of the launch of a luxury gateway project that collects large amounts from potential buyers or not to pay money. More than 700 buyers were recorded in different projects after complaining that approximately 360 crore was defrauded.

According to ED, Sivel had approval of the Real Estate Regulatory Authority (RERA) or Haydarabad Metropolitan Development Authority (HMDA) and could not continue an account. Instead, the funds from the buyers were directed to more than one account or collected in cash. Inspectors found that Mr. Rao played an important role for Mr. Rao to collect more than 800 Crore by inventory sales in the projects put into the market illegally and collected a large amount of unconditional cash. In case of Sarvani Elite, it was claimed that more than 216 Crore was taken from buyers in cash.

ED also said that Mr. Rao abused approximately 126 Crore, where more than 50 Crore cash in cash from the company. Following the judicial audit, Mr. Lakshminarayan gave three fire against him for embezzlement. It is said that Mr. Rao entered a settlement for their withdrawal and seemingly conveyed 21 immovable properties for the benefit of Mr. Lakshminarayan, in the names of the apparently employees and partners.

Inspectors also claimed that Mr. Rao directed criminal revenues to real estates, Royal Nirman Infra Projects Pvt. Ltd., Mahogany Farmlands Projects Ltd. And Sreegruha Estates Pvt. Ltd.

Previously, ED raided the case, seized accusing documents and digital devices, freezing several bank accounts and temporarily added 161.5 Crore assets. Mr. Lakshminarayan, General Manager of PerfiPL, was arrested by the agency in September 2024 and remained in judicial custody.

ED said more investigations in the case.