Directorate for recovery (ED), Hyderabad Zonal Office, arrested Sanda Purnacander Rao, former director of M/S Sahiti Infratec Ventures India PVT. Ltd. (Sivipl) and the head of his sales and marketing team in connection with extensive real estate fraud. He was taken into custody 25 August pursuant to the provisions of the Act on Money washing (PMLA), 2002, and was produced before the Special Court (PMLA) on the next day. The court returned him to a 15 -day judgment.
The investigation comes from the Firmed by the Telelangan Police against Sivipl, its CEO B. Lakshminarayan and others for advertising the “preliminary offer” of a luxury closed community project, collecting huge amounts from potential buyers, but cannot either deliver strict flats or refund money. Several other companies were registered after more than 700 buyers complained that they were cheated at almost 360 GBP Crore in various projects.
According to ED, SIVIPL was approved by SIVIPL (Rera) or Hyderabad Metropolitan Development Authority (HMDA) and could not maintain a safekeeping account. Instead, the funds from the buyers were diverted to multiple accounts or collected in cash. Investigators found that Mr. Rao played a key role in helping Mr. Lakshminarayan to get more than 800 GBP Crore by selling supplies in illegally initiated projects and collecting a large number of unanswered cash. In the case of Sarvani Elite himself, more than 216 crore in cash was reportedly taken from buyers.
Ed also said that Mr. Rao abused approximately 126 GBP Crore from a company, of which more than 50 GBP Crore was in cash. After the forensic audit, Mr. Lakshminarayan filed three fir against him for embezzlement. In order to be withdrawn, Mr. Rao has entered the settlement and transferred 21 immovable property, seemingly in the names of employees and collaborators, for the benefit of Mr. Lakshminarayan.
Investigators also claim that Mr. Rao has directed the proceeds of crime to real estate, bought real estate in the names of family members and leading companies, including Royal Nirman Infra PVT projects. Ltd., Mahogany Farmlands Projects Ltd. and Sreegruha Estates pvt. Ltd.
Previously, ED made in the case of raids, confiscated documents and digital devices, freezing several bank accounts, and provisionally connected assets worth 161.5 crore. Mr. Lakshminarayan, CEO of SIVIPL, was arrested by the agency in September 2024 and remains in the judiciary.
Ed stated that further investigation is taking place in this case.
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Published – August 26 2025 22:02 is
