The Economic Offenses Wing (EOW) of Cyberabad Police has registered a case against Kukatpally-based entrepreneur M. Sandhya Rani and her associates for allegedly defrauding investors of over ₹73 crore. Officials said this marks the third major fraud case against Rani in recent weeks. She is currently in judicial custody.
Complaints from Victims
Kavitha Dhannamaneni, 42, a resident of Gachibowli, told police that Rani, who runs Sri Sai Ram Enterprises, persuaded her and her friend D. Pranitha to invest between June 2023 and August 2025.
In the initial phase, Rani reportedly built trust by providing modest returns on small investments. She later encouraged the women to borrow from friends and family to fund “purchase orders” purportedly from hospitals, apparel firms, and schools.
The money was routed through four shell companies and ultimately funneled into 13 beneficiary accounts. The victims said they recovered only ₹5.8 crore, which was allegedly reinvested under pressure when Rani presented forged documents of new business deals.
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Alleged Intimidation
The complaint further states that on July 28, 2025, when the victims demanded a refund of their capital of ₹73.17 crore, they were allegedly threatened at Rani’s Kukatpally office.
Present at the time were Sandhya Rani, her husband Sridhar, son Koushik, associates Ramdas and Subbaraju, along with hired security personnel. “We only asked for our invested amount, not interest. They refused and threatened us, citing political and financial influence,” Kavitha told authorities.
Pattern of Cases
Police records indicate a series of cases against Rani:
- August 22, 2025: First case filed; Rani and associate Ramdas arrested on September 1.
- September 16, 2025: Second case registered involving a ₹41.9 crore fraud.
- September 20, 2025: Latest case lodged for ₹73.17 crore fraud.
Other accused remain absconding.
Police Action
The EOW has invoked provisions of the Bharatiya Nyaya Sanhita (BNS) and the Telangana Protection of Depositors of Financial Establishments Act.
An EOW official said, “We will petition for extended custody of Sandhya Rani and Ramdas to enable further investigation into these new cases.”
Background and Modus Operandi
Authorities said Rani’s alleged modus operandi involved establishing private companies, generating forged purchase orders, and luring investors with promises of high returns. Initial trust was built through small payouts, after which larger investments were solicited and subsequently misappropriated.
Investigators suspect that the diverted funds were used for personal enrichment and political lobbying. With three cases now under judicial consideration, officials anticipate additional victims may come forward.
