Hyderabad Builder Held For Duping Investors Of Rs. 61 Crores
Hyderabad, Dec 21 (Maxim News): The Enforcement Directorate’s (ED) Hyderabad Zonal Office on Saturday arrested Kakarla Srinivas, the Managing Director of Jayathri Infrastructures India Pvt Ltd and initiated investigation based on multiple FIRs registered by the Hyderabad Police over alleged Rs 61 cr fraud.
The FIRs were filed against Jayathri Infrastructures India Pvt Ltd, its Managing Director Kakarla Srinivas, Jayathri Reliabilities India Pvt Ltd, and others under various sections of the IPC, 1860, and the Telangana State Protection of Depositors of Financial Establishments Act.
These FIRs stemmed from complaints by homebuyers and investors alleging cheating, criminal breach of trust, and misappropriation of funds. The victims were promised pre-launch flats, commercial units, metro-station stalls, and assured rental returns that never materialised. (Maxim News)
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