ED attaches ₹12 crore assets of Sahiti Infratec in money laundering case
HYDERABAD: The Directorate of Enforcement (ED), Hyderabad Zonal Office, has attached movable and immovable assets worth ₹12.65 crore belonging to 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 investigation based on multiple FIRs registered by the Telangana Police under Section 420 of the Indian Penal Code against SIVIPL, its promoters and directors for allegedly defrauding hundreds of homebuyers and investors of a cumulative ₹842.15 crore by promising flats and villas that were never delivered.
Funds collected without permissions or escrow safeguards
ED said its probe revealed that SIVIPL collected large sums from buyers without obtaining approvals from the Real Estate Regulatory Authority (RERA) or the Hyderabad Metropolitan Development Authority (HMDA). The company also failed to maintain an escrow account for project funds, instead routing the money through several unrelated bank accounts.
Investigators found that ₹216.91 crore was collected in cash, kept outside official accounts. Managing Director B. Lakshminarayana and then Director (Sales and Marketing) Sandu Purnachandra Rao allegedly diverted substantial portions of these funds to personal and family accounts and purchased immovable properties in their own and benami names.
₹126 crore misappropriated, earlier attachments worth ₹161.5 crore
According to the ED, Purnachandra Rao misappropriated ₹126 crore, including ₹50 crore collected in cash between 2018 and August 2020. These funds were allegedly laundered into assets held by him and his relatives, many acquired after his resignation from the company.
The agency had earlier attached properties worth ₹161.50 crore belonging to SIVIPL, Lakshminarayana, Rao and others. Both were arrested—Lakshminarayana on September 29, 2024, and Rao on August 25, 2025—and remain in judicial custody after their bail pleas were rejected by the Metropolitan Sessions Judge’s Court, Nampally, and the Telangana High Court.
ED filed a prosecution complaint in the case on November 5, 2024, before the Metropolitan Sessions Judge’s Court, which has taken cognisance of the complaint.
