ED searches Sandu’s offices for links with Sahiti Infra PMLA scam
ED officials had conducted raids at the residence and offices of its managing director Lakshmi Narayana at Jubilee Hills last month.
HYDERABAD: Enforcement Directorate (ED) officials on Monday conducted searches on the residence and office of Purnachandra Rao Sandu for his association with the Sahiti Infratec Ventures India (SIVIPL) in connection with several PMLA cases.
Reportedly, the officials verified Sandu’s business transactions and his financial links with the Sahiti Group. Sahiti Infra was established in 2015 by Sandu and Boodati Lakshmi Narayana. Later, the former was relieved from Sahiti and replaced by Yadagala Sreenubabu as the group’s new director.
The firm is accused of duping hundreds of customers after collecting around Rs 400 crore on the pretext of pre-launch of construction projects, although they failed to deliver properties to customers in 2019. More than 700 customers invested in residential properties.
When the scam broke out, Sandu was associated with the company and he allegedly had complete knowledge about the happenings. The ED suspects his role in the irregularities.
ED officials had conducted raids at the residence and offices of its managing director Lakshmi Narayana at Jubilee Hills last month.
As per the preliminary probe, they found that Sahiti Infra Tech indulged in land business activities with other real estate companies in the city. The Hyderabad CCS police have registered a number of cases in connection with the offences.
The company’s ongoing commercial projects are at Mogalrajpuram in Vijayawada, Nanakramguda, N Convention and Kokapet in Hyderabad while the residential projects are at Ameenpur, Pragathinagar, Patrikanagar, Kompally, and Shamirpet.
