Tag: Cyberabad Economic Offences Wing

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Hyderabad: EOW probes Saket Engineers for villa fraud

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated legal action against Saket Engineers, a real estate company that developed villas and flats near Kompally, following allegations of fraudulent practices involving mortgaging occupied properties as ‘unsold inventory’ to secure a 30 crore loan. The case, registered on May 12, stems from a complaint by A Rohit Reddy, a resident of Gowdavalli in Medchal-Malkajgiri district. Rohit claims that the company’s directors unlawfully mortgaged his villa number 94. He asserts that the land for the real estate project originally belonged to his family, and they entered a development agreement with Saket Engineers…

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Hyderabad: Two Firms Accused of Duping 40 Investors of ₹39 Crore

HYDERABAD: The Economic Offences Wing (EOW) of Cyberabad police has initiated a cheating case against the directors and partners of two private firms. The individuals are accused of defrauding over 40 investors of more than Rs 39 crore in a proposed villa project in Pocharam, Patancheru mandal. The complaint was filed by O Venkata Koteswara Rao, a 49-year-old IT employee from Miyapur. He alleges that R Srikanth Reddy, director of RSR Greenway Infra, along with his wife and co-director Rajeswari, and partners of Suryodaya company, Swamy Reddy and Reddy Sharadha, deceived him and 41 other investors. According to Rao, in…

Latest StoriesRegulatory

EOW Files Case Against Four for Selling Land to 80 Buyers

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated a criminal case against four individuals accused of fraudulently selling assigned land to 80 buyers, valued at Rs 3.48 crore. The complainant, a coconut vendor from Allapur in Borabanda, claims the accused befriended him and presented an opportunity to purchase plots in Patancheru. The complaint states that Nagesh Goud and Ravi Goud convinced him they were the landowners, while G Vara Prasad, P Shivaram, and Satyanarayana acted as brokers. They informed the complainant they would seek permission for the layout and offered him a chance to buy plots at a discounted…

Latest StoriesRegulatory

Hyderabad: Firm sued for duping nine flat buyers of ₹4 crore

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated a cheating case against a construction company based in Jubilee Hills, accused of defrauding nine flat buyers of ₹4.41 crore linked to a stalled project in Tellapur. The complainants, K Mahesh, a 34-year-old employee of a Public Sector Undertaking (PSU), and his friend T Chandra Kiran Kumar began their home search in 2021. They were approached by a marketing executive named Bhargav, who offered an attractive early bird rate of ₹2,800 per square foot with a guaranteed buy-back option. Believing claims that the necessary land would be procured and that HMDA…