ED files supplementary chargesheet in Sahiti Infratec scam
HYDERABAD: Enforcement Directorate (ED), Hyderabad Zonal Office has filed Supplementary Prosecution Complaint before the MSJ Court, Hyderabad against B.Lakshminarayana, Sandhu Purnachandra Rao, Ex-Director and Sales and Marketing Head of Sahiti Infratec Ventures India Pvt. Ltd. (SIVIPL) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The Court has taken cognizance of the same on 05.01.2026.
ED initiated an investigation based on an FIR registered by Telangana Police against Sahiti Infratec Ventures India Pvt. Ltd., B. Lakshminarayan, and others for advertising a “Pre-Launch Offer” for a residential gated community and collecting large sums from prospective buyers. The company failed to deliver the flats or refund the money, cheating customers of their savings.
Subsequent FIRs were registered after complaints from investors and buyers of various projects by SIVIPL and its group entities. More than 700 homebuyers, promised flats or villas, were defrauded of nearly Rs. 360 Crore.
Further investigation revealed that Sahiti Infratec Ventures India Pvt. Ltd. (SIVIPL) did not have the required RERA or HMDA permission. There was no ESCROW account for the project. Funds from investors were deposited in various bank accounts and collected in cash. The accused collected over Rs. 800 Crore by selling inventory in illegally launched projects and cheated the public by selling inventory without necessary approvals. They collected large amounts of cash from buyers, which was not entered in SIVIPL’s books to conceal and siphon funds. Over Rs. 216.91 Crore in cash was collected from buyers for the Sarvani Elite project.
ED seized incriminating material
ED investigation also revealed that the proceeds of crime were siphoned off by diverting SIVIPL funds to related and unrelated entities through bogus banking transactions without genuine business. Substantial amounts of cash were withdrawn from SIVIPL’s bank accounts and siphoned off. Proceeds of crime were also sent to overseas bank accounts by B. Lakshminarayana and his family members.
Sandu Purnachandra Rao misappropriated about Rs. 126 Crore from SIVIPL, including over Rs. 50 Crore collected in cash. After a forensic audit revealed this, B. Lakshminarayana registered three FIRs against him for misappropriation. To have these FIRs withdrawn, Sandu Purnachandra Rao settled with B. Lakshminarayana and transferred 21 immovable properties in the names of Sahiti Group employees and others for B. Lakshminarayana’s benefit. He also purchased properties in the names of his family members and entities using the proceeds of crime.
Earlier, ED conducted searches at various premises, seized incriminating material and digital devices, and froze several bank accounts. Movable and immovable properties worth Rs. 169.15 Crore were provisionally attached during the PMLA investigation. B. Lakshminarayan and Sandhu Purnachandra Rao were arrested on 29.09.2024 and 25.08.2025, respectively, and remain in judicial custody. Further investigation is ongoing.
