Sahiti Infratec Ventures India Pvt Ltd Managing Director Budati Lakshminarayana who is also a member of Tirumala Tirupathi Devasthanam has been arrested for a scam of about 900 crores.
B Lakshminarayana, known for his reputation in the field of real estate has become TTD Member using his influence and reference of Visakhapatnam’s Sarada Petam head Sri Sri Sri Swaroopanandendra. This businessman under the name of Sahithi Saravani Elite promised the residents of Sangareddy district to construct 10 lavish apartments with 34 floors each in 2019 and many booked these apartments by paying the full amount upfront. Till now, there are no developments as the company stated that they failed to get the necessary permissions from HMDA despite their trial. Vexed victims demanded the MD to return the payments and the company paid the amounts in cheques, which bounced in the banks. All the victims formed a union and approached Police and the investigation revealed that not just in Sangareddy, Lakshminarayana had scammed people in many places and collected 900 crores.
Police within no time arrested this TTD Member on Friday and took him into custody to probe deeper. Meanwhile, he has sent his resignation to the TTD and the latter forwarded the letter to the AP Government for approval.