CCS Arrests Dhanwantari Foundation Director For ₹516-Crore Scam

Hyderabad: The Central Crime Station (CCS), Hyderabad, arrested Dhanwantari Foundation International Trust director Dr P. Kamalakar Sharma and others for raising `516-crore deposits from 2,000 innocent senior citizens by offering good profits within a specific period.

Speaking to Deccan Chronicle CCS detective department Hyderabad

DCP said, “We arrested the prime accused and identified the properties acquired by Dhanwantari Foundation and its companies, which include 450 acres of land in Telangana and Andhra Pradesh and 3,000 square yards of commercial space at the heart of the city.”

“We received a complaint from Susrala Narasimha Murthy on December 12, 2023. Based on the complaint, we registered a case of cheating, criminal intimidation, breach of trust and other relevant sections under Sections 406,420 read with 34 of the Indian Penal Code and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act,” Chaitanya said.

The proposals were sent to the government for the issuance of an ad-interim attachment of properties and obtained GOs later. Petitions were filed before the sessions court and succeeded in obtaining an “absolute” order of ad-interim attachment of properties, DCP said.

Further, the High Court of Telangana also dismissed the criminal appeals filed by DFI challenging the orders passed by the session judge, DCP further said.

All depositors who have invested money in DFI but have not yet submitted their deposit details to CCS, Hyderabad, are requested to do so at the earliest. The submission of such details will enable the competent authority to prepare and file the list of depositors under Section 6(4) of the Telangana Protection of Depositors of Financial Establishments (TGPDFE) Act for equitable distribution of sale proceeds upon completion of the auction of the attached properties, he added.