EOW Books Bharathi Builders For ₹5 Crore Scam

Hyderabad: The Cyberabad Economic Offences Wing (EOW) has registered a fresh case against Bharathi Builders India Private Limited and its founders for allegedly duping their customers of ₹5.39 crore in a pre-launch scam.

According to officials from the EOW, the persons named in the FIR are chairman Dupati Nagaraju, managing director Shivarama Krishna, CEO Ponnari, and shareholders Sunil Kumar Ahuja and Ashish Ahuja.

According to the complaint, the company promoted a pre-launch real estate project at Bhanur, promising investors that their money would double within two years under a “pre-launch offer”.

P. Kishore Kumar, a private employee from Chikkadpally, said he agreed to purchase a 1,150 sqft double-bedroom flat in the proposed project. Accordingly, in October 2021, he paid ₹11.5 lakh towards the flat, known to be half of the total cost. During a later visit to the site, he noticed a board showing that the land was owned by Sunil Kumar Ahuja and his associated companies.

When inquired, Kishore learnt that a substantial portion of the land had been transferred without informing nearly 300 customers. Kishore subsequently found that at least 22 investors had collectively paid ₹5.39 crore and faced similar issues. The victims approached the EOW.

In 2024, the EOW had registered another case against the firm, and named Dupati Nagaraju and Shivarama Krishna in the FIR, for allegedly collecting nearly ₹60 crore from around 350 investors for a project named “Bharathi Lake View” in Kompally, spread over 6.23 acres. The land was reportedly sold to another party instead of constructing flats. The accused were arrested in that case.

Police said that a cheating case has been registered against the company and further investigation into the incident is underway.