The Cyberabad Economic Offences Wing (EOW) has initiated a cheating case against a construction company located in Jubilee Hills for allegedly defrauding nine flat purchasers of ₹4.41 crore through a halted construction project in Tellapur.
As per police reports, K Mahesh, a 34-year-old employee of a city-based Public Sector Undertaking (PSU), along with his friend T Chandra Kiran Kumar, was in search of a home in 2021 when a marketing executive named Bhargav presented an early bird rate of ₹2,800 per square foot, accompanied by a guaranteed buy-back option.
Trusting the assurances that land acquisition and HMDA and RERA clearances would be completed within six months, the pair paid ₹35 lakh on December 17, 2021, and entered into a Memorandum of Understanding (MoU). As the construction company failed to demonstrate any advancement, several investors approached them to express their concerns.
To placate the investors, a symbolic bhoomi-puja was conducted on June 4, 2023, at the proposed site in Tellapur; however, even after two years, no approvals had been obtained, and construction had yet to commence, as alleged by the complainant. In a meeting held in May 2025, the developer requested additional charges for square footage and GST. The complainant indicated that while some buyers complied, others, including himself, declined to pay.
On August 23, the managing partner of the company, P Sudhakar, unexpectedly declared that the project was cancelled and instructed customers to transition to their other projects upon payment of additional fees, which led to demands for refunds, stated the complainant. Mahesh’s petition includes eight other dissatisfied buyers, who collectively paid ₹4.41 crore through cash, cheques, and online transfers to the accused.
In response to the complaint, the EOW police have filed a case under Sections 316(2) (Punishment for criminal breach of trust) and 318(4) (Cheating and dishonestly inducing delivery of property) of the Bharatiya Nyaya Sanhita, as well as Section 5 of the Telangana Protection of Depositors in Financial Establishments Act against the real estate firm, P Sudhakar, and his associate, P Suguna.
