Vamsiram Builders, a well-known real estate firm in Hyderabad, was horrified to learn that it had fallen victim to a scam. The company’s name was reportedly used in two premium residential areas of Mumbai, Khar West and Prabhadevi, landing it in the heart of a property fraud estimated to be worth Rs 3,000 crore.
Upon learning about the incident, Vamsiram Builders filed a complaint with the Registrar of Companies (ROC) and the Ministry of Corporate Affairs on Friday, claiming that a Mumbai-based group had impersonated the company to carry out two large-scale redevelopment projects, using its name, logo, project details, address, and even clientele.
The complaint read: “It has come to our notice that a company by name Vamsiram Realty Pvt Ltd, represented by its directors, Srishitha Kattam Reddy and Pattabhiram Reddi Kattamreddi, registered under ROC, Mumbai, vide CIN: U51909MH2023PTC397289, on January 10, 2023, has floated a similar business cloning our mnemonic, website, colour codes, and styling of our business.”
