E. Prem Sagar Reddy has been appointed as chairman, K. Indrasena Reddy as president and S. Ram Reddy as President-Elect.
Hyderabad: The Confederation of Real Estate Developers’ Associations of India (Credai) Telangana has announced its new managing committee for the 2025–27 term. E. Prem Sagar Reddy has been appointed as chairman, K. Indrasena Reddy as president and S. Ram Reddy as President-Elect. Srikanth, Govardhan Reddy, Ram Reddy and Satyanarayana Reddy will serve as vice presidents, while Pallerla Nagaprasad will take charge as joint secretary.
Chairman Prem Sagar Reddy said, “Telangana’s growth story is unfolding rapidly. With projects like the Regional Ring Road (RRR) and the state’s strong focus on district development, Credai will play a pivotal role in this transformation through proactive engagement, policy advocacy and future-ready skilling.”
Association president K. Indrasena Reddy said, “This is a defining decade for Telangana’s real estate sector. By 2047, India’s economy is projected to reach $50 trillion, with our industry contributing nearly $5 trillion to the national GDP. In this era of growth, our mission is to equip developers with next-level technologies, modern practices and a progressive mindset.”
CID busts Rs.140-cr bogus co-op racket
Hyderabad: The CID has arrested the chairman of Mudra Agriculture Skill Development Multi-State Co-operative Society Limited, Thippeneni Ramadasappa Naidu, along with his son Thippeneni Sai Kiran, for allegedly duping over 2,000 people—including farmers, daily wage workers and unemployed youth—by falsely portraying the society as a government-backed initiative and collecting around Rs.140 crore.
According to additional DGP Charu Sinha, the accused misrepresented the society as being aligned with the Central Government’s Pradhan Mantri Mudra Yojana and promised high-paying government jobs and guaranteed investment returns. The duo also claimed the society would become a full-fledged bank within two years, and that depositors would be made permanent government employees.
The investigation revealed that the scam began with advertisements in local Telugu newspapers, offering 2,000 government marketing supervisor posts. Around 1,600 people from Telangana and Andhra Pradesh were recruited. Their educational certificates were taken and funds were collected under the guise of share capital and investment bonds, instead of fixed deposits. Recruits were forced to meet collection targets from farmers, and if they failed, their salaries were deducted. Those who resigned were denied the return of certificates and were threatened with negative publicity in Telugu newspapers.
Further, the CID stated that the accused collected signatures on blank papers and withheld salaries. A portion of the collected money was invested in APIIC for the procurement of industrial plots in Andhra Pradesh.
Multiple cases have been registered at Kachiguda, Nallakunta, Gambhiraopet, Dubbaka and other police stations under IPC Sections 406, 420, 506, 409 and the Telangana Protection of Depositors in Financial Establishments Act. The CID has urged the public to remain vigilant and verify whether financial institutions have RBI approvals before investing.
