Government Orders Attachment of Sneha MACS’ Properties
Claiming their company is run as per the ideology of Dr. B.R. Ambedkar.
Visakhapatnam: State government on Friday issued orders attaching the immovable properties of Sneha MACS based on a report filed by Visakhapatnam city police commissioner.
Sneha MACS had been established at Rajendranagar in Seethampeta area of in Vizag city by Katikala Shiva Bhagya Rao, founder chairman and director of Sneha Group, and Bhagya Rao’s wife Katikala Swarna Latha, president of the company.
Claiming their company is run as per the ideology of Dr. B.R. Ambedkar, Bhagya Rao and Swarna Latha lured people, particularly members of the scheduled caste communities, into making deposits with payment of high interest under the slogan “Pay Back to Society.”
Sneha MACS thus collected over ₹6.32 crore and diverted them to personal accounts, benami companies, and immovable properties across multiple districts.
Police subsequently registered a case based on a complaint made by the duped depositors.
