The ED began its probe based on multiple FIRs filed by the Telangana Police under Section 420 of the IPC against SIVIPL, its promoters, directors, and others.
Published Oct 24, 2025 | 10:02 PM ⚊ Updated Oct 24, 2025 | 10:02 PM
Enforcement Directorate.
Synopsis: The ED has attached movable and immovable assets worth ₹12.65 crore belonging to Sahiti Infratec Ventures India Pvt Ltd, its former director Sandu Purnachandra Rao, his family, and associated entities in connection with an alleged ₹842.15 crore fraud against investors and homebuyers. Investigations revealed that the company collected funds without regulatory approvals and that substantial sums were diverted into personal and family accounts to acquire properties.
The Enforcement Directorate (ED), Hyderabad Zonal Office, has attached movable and immovable assets worth ₹12.65 crore belonging to M/s Sahiti Infratec Ventures India Pvt Ltd (SIVIPL), its former director Sandu Purnachandra Rao, his family members, and associated entities under the Prevention of Money Laundering Act (PMLA), 2002.
The action follows an ongoing investigation into allegations of fraud involving ₹842.15 crore collected from investors and homebuyers.
The ED began its probe based on multiple FIRs filed by the Telangana Police under Section 420 of the IPC against SIVIPL, its promoters, directors, and others.
The complaints were lodged by investors and homebuyers who were promised flats and villas but were allegedly defrauded by the company and its group entities.
Investigations reportedly revealed that SIVIPL collected funds from homebuyers without the necessary permissions from the Real Estate Regulatory Authority (RERA) or the Hyderabad Metropolitan Development Authority (HMDA), according to a press statement by the central agency.
The company also reportedly failed to maintain an ESCROW account for the project, with funds deposited into various bank accounts.
Notably, ₹216.91 crore was collected in cash from investors and deliberately excluded from SIVIPL’s books of accounts.
The ED said it found that B Lakshminarayana, the Managing Director of SIVIPL, and Sandu Purnachandra Rao, Director and Head of Sales and Marketing, diverted significant portions of homebuyers’ funds to their personal accounts and those of their family members and benamis.
The agency said these funds were used to acquire immovable properties. Specifically, Sandu Purnachandra Rao is accused of misappropriating ₹126 crore, including ₹50 crore collected in cash between 2018 and August 2020, through agreements of sale and by routing funds into personal and family accounts.
Properties worth crores, acquired primarily after Rao’s resignation from SIVIPL, were reportedly traced to him and his associates.
Previously, the ED had attached properties worth ₹161.50 crore linked to SIVIPL, B Lakshminarayana, Rao, and others.
Both Lakshminarayana and Rao were arrested on 28 September 2024 and 25 August 2025, respectively. Their bail petitions were rejected by the MSJ Court, Nampally, and the Telangana High Court, and they remain in judicial custody.
On 5 November 2024, the ED filed a Prosecution Complaint before the MSJ Court, Nampally, which has taken cognisance of the case.
(Edited by Dese Gowda)
