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The EOW Police of Cyberabad arrested (02) accused persons, who were involved in Cheating, Criminal Breach of Trust and collected money from around (200) customers to the tune of Rs.48 Crores in the name of pre-launch offers of flats.
Cr. No.87/2024 U/s 406, 409, 420 IPC of EOW PS, Cyberabad
Arrested accused:
- Chakka Bhaskar, Chairman of M/s R Homes Infra Developers Pvt, office at AS Raju Nagar, Kukatpally,
- Sudharani, wife of Chakka Bhaskar, Managing Director of M/s R Homes Infra Developers Pvt. Both r/o Kukatpally, Hyderabad.
Complainant:
Vadlamudi Manoj Kumar, R/o Kompally, Hyderabad.
Brief facts:
The case stems from a petition filed by Mr. Vadlamudi Manoj Kumar, a businessman, who invested a total of Rs. 65,50,000/- in various projects promoted by the accused between 2020 and 2021. They promised lucrative returns and rapid development of multiple real estate projects in the following places:
- Bliss Heights Project in Yamnampet (V), Ghatkesar (M), Medchal-Malkajgiri District.
- ORR Heights Project in Kardanur (V), Patancheruvu (M), Sanga Reddy District.
- Farmland Projects at Karamungi (V), Nagilgidda (M), Sanga Reddy District, Murigi (V), Nagilgidda (M), Sanga Reddy District, Cheemalpahad (V), Sirgapur ( M) near Narayankhed of Sangareddy District.
K. PRASAD’Dy. Commissioner of Police,said the both the accused hatched a plan to collect the money from the customers in the guise of pre-launch offers. As per their plan they did not obtain any proper required permission from the competent authorities, despite they did not have any permissions they given wide publicity and advertised their projects using media and social media channels, celebrity endorsements and attractive promotional schemes stating that they are providing the flats at the cheaper rate compare to market rate, they promised that they will hand over the project within period of three years, otherwise they will give rent of Rs. 6000/- for 2 BHK flat and Rs. 8000/- for 3 BHK flat and they attracted the customers and made them to invest in their projects. Likewise the accused collected Rs. 48 Crores from around 200 victims, even after completion of three years period they did not fulfill their promise and extended the project on different reasons. When the buyers insisted them about progress of work and they found absconding.
ADVISORY TO THE PUBLIC:
The Cyberabad EOW Police hereby advised to the public that be aware of Pre-launch offers and before purchasing any property they may verify the legitimacy of the property with legal counsel. The department is committed to prosecuting the fraudsters, cheaters and ensuring justice to victims.
The case is being investigated by Sri. B. Somnarayan Singh, ACP Economic Offences Wing PS, Cyberabad under the supervision of Sri. K. Prasad, Dy. Commissioner of Police, EOW, Cyberabad
