ED files supplementary chargesheet in Sahiti Infratec money laundering case

The Directorate of Enforcement (ED) has filed a supplementary prosecution complaint before a special court in Hyderabad against senior executives of Sahiti Infratec Ventures India Pvt Ltd in connection with the real estate fraud and money laundering case involving hundreds of home-buyers.

The supplementary complaint was filed under the Prevention of Money Laundering Act, 2002, against B. Lakshminarayana and Sandhu Purnachandra Rao, former director and sales and marketing head of the company. The special court took cognisance of the complaint on January 5, 2025.

The ED initiated its investigation on the basis of an FIR registered by Telangana police, which accused Sahiti Infratec and its promoters of advertising pre-launch offers for a purported world-class gated residential project and collecting huge sums from prospective buyers. Despite collecting money, the company allegedly failed to deliver flats or refund the amounts, thereby cheating investors of their savings.

As the probe widened, multiple FIRs were registered based on complaints from buyers across different projects undertaken by Sahiti Infratec and its group entities. Investigators said more than 700 homebuyers were defrauded of nearly ₹360 crore after being promised delivery of flats and villas.

The ED also found that Sandhu Purnachandra Rao allegedly misappropriated around ₹126 crore from the company, including over ₹50 crore collected in cash. After this came to light through a forensic audit, Lakshminarayana had lodged three FIRs against Rao. Investigators said that in order to secure withdrawal of those FIRs, Rao entered into a settlement and transferred 21 immovable properties in the names of Sahiti Group employees and others, allegedly for the beneficial ownership of Lakshminarayana. Rao is also accused of purchasing properties in the names of his family members and entities using proceeds of crime.

Further investigation in the case is under way.