Sridhar Rao | Hyderabad, April 21: Sandhya Convention Managing Director Sridhar Rao has landed in fresh trouble after the Cyberabad Economic Offences Wing registered a new fraud case against him. He already faces allegations in several land disputes and cheating cases.
Police said a Delhi based real estate company accused Sridhar Rao of cheating it in a business deal. Therefore, the latest case has created fresh attention around the businessman.
Officials said the complaint came from Athena Projects Private Limited, a company based in Delhi. According to the complaint, Sridhar Rao had business dealings with the firm in the past.
Sridhar Rao booked in fraud case
Police said the complainants alleged that fake documents were created during the transactions. They claimed the company was misled and suffered a loss of nearly Rs 14 crore.
Investigators suspect the forged papers were used to gain financial benefit. Therefore, Cyberabad EOW officials registered a case under relevant sections and began further inquiry.
The complaint also named Sandhya, wife of Sridhar Rao, as a participant in the disputed transactions. As a result, police included both names in the case.
Sources said investigators have already collected preliminary material linked to the complaint. Moreover, officers are expected to examine documents and financial records during the next stage of the probe.
Sridhar Rao has faced legal trouble earlier as well. Cases were previously registered against him in Gachibowli and Raidurgam police station limits.
He also faced past allegations of issuing threats by using the name of a senior IPS officer. However, police are separately examining the fresh complaint on its own merits.
The registration of the new case has again placed the Sandhya Convention MD under scrutiny. Meanwhile, officials said the investigation would continue based on evidence and statements.
No formal response from Sridhar Rao or the other accused was immediately available after the case registration.
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