ED Attaches ₹12.65 Crore Worth of Properties Linked to M/s Sahiti Infratec Ventures India Pvt. Ltd. under PMLA, 2002.

Headnote:

The Directorate of Enforcement (ED), Hyderabad Zonal Office, has attached movable and immovable properties worth ₹12.65 crore belonging to M/s 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, 2002 (PMLA). The attachment follows findings that the accused defrauded hundreds of investors/homebuyers of approximately ₹842.15 crore through fraudulent real estate schemes.

Background:

• ED initiated the investigation based on multiple FIRs registered by Telangana Police under Section 420 IPC against M/s SIVIPL, its Promoters/Directors, and others.

• Complainants alleged that the company collected huge sums from investors/homebuyers for flats and villas that were never delivered.

• The total fraud identified amounts to ₹842.15 crore.

• The investigation revealed that SIVIPL lacked RERA/HMDA permissions and operated without an ESCROW account, diverting investor funds into multiple bank accounts.

ED’s Investigation and Findings:

• ED discovered that ₹216.91 crore was collected in cash and kept off the official books of SIVIPL.

• B. Lakshminarayana (MD) and Sandu Purnachandra Rao (Director & Head of Sales and Marketing) diverted significant amounts of homebuyers’ funds to personal and family bank accounts.

• Funds were used to acquire immovable properties in their names and those of family members and benamis.

• S. Purnachandra Rao alone misappropriated ₹126 crore, including ₹50 crore received in cash between 2018 and August 2020, by routing customer payments through his and relatives’ bank accounts.

• Rao later invested these laundered proceeds to acquire high-value properties after resigning from SIVIPL.

ED’s Action and Current Status:

• The latest attachment of ₹12.65 crore adds to the previous attachment of ₹161.50 crore, bringing the total attached assets in the case to over ₹174 crore.

• B. Lakshminarayana and S. Purnachandra Rao were arrested on 29.09.2024 and 25.08.2025, respectively.

• Their bail petitions were dismissed by both the Hon’ble MSJ Court, Nampally, and the Hon’ble Telangana High Court; both remain in judicial custody.

• A Prosecution Complaint (PC) was filed on 05.11.2024 before the Hon’ble MSJ Court, Nampally, and cognizance has been taken.

• Further investigation is under progress.

Authority: Directorate of Enforcement, Hyderabad Zonal Office

Statute Involved: Prevention of Money Laundering Act, 2002 (PMLA)