Cyberabad Police have booked three directors of a Hyderabad based construction firm for allegedly defrauding investors of Rs 4.52 crore through a land investment project in Sangareddy district by promising returns of 24 per cent and a buyback arrangement that was allegedly never honoured.
Project Promoted With Assured Returns
According to the Economic Offences Wing of the Cyberabad Police, the directors of Rohit Infra, identified as Mohan Reddy, Rohit Reddy and another associate, promoted a project titled Botanical Eco Living Spaces at Munipally and Polkampally villages in Sangareddy district. Police said the firm collected investments from 11 people in connection with the project.
The case was registered on the basis of a complaint filed by Cheruku Venkatesham, a resident of Saroornagar, who said he invested Rs 43 lakh in 2023 after being assured attractive returns and a buyback arrangement. Police said the alleged fraud involved a total amount of Rs 4.52 crore.
The complaint places the focus on the promises allegedly made to investors at the time funds were collected, particularly the assurance that the investment would yield fixed returns and could later be bought back by the company.
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Sale Deed and Buyback Cheques Cited in Complaint
In his complaint, Venkatesham said he invested the amount between June 27 and July 3, 2023. As part of the transaction, the company executed a sale deed in his name for 25 guntas of land.
He further stated that the firm issued two cheques worth Rs 65.62 lakh under a buyback agreement that was valid until November 3, 2024. The documents cited in the complaint indicate that the investment structure was presented not only as a land transaction but also as a return linked arrangement backed by a repurchase commitment.
The case suggests that the buyback promise was central to the investor’s decision, with the cheques and agreement forming a key part of the alleged assurance given by the company.
Repayment Demand Followed by Police Case
According to the complaint, when Venkatesham later approached the company seeking repayment, the directors allegedly began avoiding him and failed to honour the commitment. That alleged failure led to the police complaint and the registration of the case.
Police have since launched an investigation into the allegations. With three directors now booked and the complaint pointing to investments collected from 11 individuals, the inquiry is likely to examine how the project was marketed, the nature of the commitments made to investors and the handling of funds collected under the scheme.
The case adds to a growing list of real estate linked investment complaints in which assured returns and buyback agreements have come under scrutiny after investors alleged that promised repayments were not made.
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.
