ED gave a big shock to Sahithi company MD Lakshminarayana, who cheated people with pre-launches. ED has attached assets of the company worth about Rs. 161.50 crore. According to the PMLA Act of 2002, it attached the assets of Sahiti MD B. Lakshminarayana, former director S. Purnachandra Rao, family members, and Omics International Limited.
ED’s decision gives
boost to buyers!
The ED attached the assets of Sahitya Group MD, which sold flats in pre-launches in Ameenpur and collected crores of rupees from buyers. With this move by ED, confidence was built among buyers that their money would be recovered sooner or later. They believe that, if not completely, at least some of it will be recovered. But the ED must dig deeper and find out in which other companies Sahiti MD invested. Where did he accumulated his assets? Where did he buy land? The victims want an in-depth investigation into the purchases he made in his name as well as in the names of his family members and benamis. They say that only if they do that will they get their money.
