A major case of alleged real estate fraud has emerged in Hyderabad, where a private company has claimed it was cheated of ₹14.85 crore in a land deal.
The Economic Offences Wing (EOW) of Cyberabad Police has registered a case against a builder and his wife, following allegations that they misrepresented ownership of prime land parcels and diverted large sums into their bank accounts.
According to the complaint, the incident dates back to 2021, when the company was planning business expansion and looking to purchase land in Hyderabad. The accused allegedly came into contact with the company after learning about its financial strength and credibility, and subsequently offered attractive land investment deals.
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Prime Property Claims
It has been alleged that builder Sridhar Saranala and his wife Sandhya Saranala presented themselves as legitimate owners of prime land parcels in and around Hyderabad. To gain trust, they reportedly invited company representatives to their residence in Jubilee Hills and later to their office at Nanakramguda.
At these meetings, the accused allegedly showed maps and partial documents related to properties located near TGSPA Circle, the Outer Ring Road service road near Nanakramguda toll gate, FCI Society in Gachibowli, and nearby areas. Based on these representations, the company was led to believe that the properties were legally clear and available for sale.
However, subsequent verification reportedly revealed that the accused did not have clear legal ownership or authority over several of the claimed properties. In some cases, there were already ongoing disputes and encroachment-related legal proceedings involving the land.
Funds Transferred to Accounts
The complaint further states that when the company demanded complete documentation, including sale deeds and encumbrance certificates before making payment, the accused allegedly avoided providing proper records. Instead, they insisted that payment should be made first, with documents to follow later.
Trusting these assurances, the company transferred ₹14.85 crore directly into the bank accounts of the accused in 2021. However, after receiving the funds, the accused allegedly stopped responding to calls and avoided further meetings.
No sale agreement was executed, no property registration took place in the company’s name, and the funds were not refunded, according to the complaint.
Following the allegations, Cyberabad EOW registered a case and initiated a detailed investigation. Officials are currently examining bank transactions, property records, and related documents to trace the flow of funds and verify the legitimacy of the claimed land deals.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
