Hyderabad, one of India's major metropolitan hubs, is currently witnessing a significant legal unfolding as the Central Crime Station (CCS) has filed a chargesheet against Sahiti Infratech Ventures India Pvt Ltd (SIVIPL) and its managing director. The company is accused of orchestrating a massive real estate fraud amounting to hundreds of crores of rupees. The police had previously apprehended Boodati Lakshminarayana, the managing director, alongside former director Sandu Purnachandra Rao, back in December of last year.
The CCS investigation reveals shocking details, indicating that SIVIPL and its promoters deceived over 2,500 customers, accumulating losses exceeding Rs 842 crore. The allegations stem from offering enticing "pre-launch" deals for various residential projects, despite lacking legal ownership of the land and failing to obtain essential approvals from governing bodies such as the Hyderabad Metropolitan Development Authority (HMDA) and the Greater Hyderabad Municipal Corporation (GHMC). This blatant disregard for regulations has left many prospective homebuyers in distress.
In response to numerous complaints from victims, the CCS has filed multiple First Information Reports (FIRs) against the company and its directors. This prompted the Enforcement Directorate (ED) to initiate a parallel investigation under the Prevention of Money Laundering Act (PMLA). As part of this probe, Lakshminarayana was arrested by the ED in September 2024, following his initial custody by the police earlier in December 2022. Meanwhile, Purnachandra Rao was taken into custody by the ED in August 2025.
The ED's actions have led to significant legal proceedings, including prosecution complaints submitted to a special PMLA court in Nampally, which has acknowledged the gravity of the case. In addition to legal action, the ED has provisionally attached assets belonging to the accused and their company, with a combined valuation exceeding Rs 174 crore. This figure incorporates previous attachments of Rs 161.5 crore, alongside more recent measures totaling Rs 12.65 crore.
As the investigation continues, the Economic Offences Wing (EOW) has disclosed that over 90 cases have already been registered against SIVIPL. Special investigative teams are actively reaching out to additional victims to compile further evidence, highlighting the expansive nature of this fraud. The ramifications of this case are likely to resonate throughout Hyderabad's real estate sector, as it raises crucial questions regarding compliance and consumer protection in the industry.