Sahiti Infra Director Satwik taken into custody
In a case of Rs 900-crore pre-launch offer fraud, the City Crime Station sleuths took into custody Boodadi Satwik, son of Sahiti Infra Lakshmi Narayana, while he was trying to flee to Dubai. The immigration officials at Shamshabad Airport spotted him and turned in to the local police while he was trying to flee the country.
Sahiti Infra MD Lakshmi Narayana resorted to duping the people offering to build gated community apartments embarking on a pre-launch offer. He inserted advertisements that he is going to build 38-storeyed high-rise apartment complexes on a 23-acre site in Aminpur with the title Sahiti Sravani. He offered to build 2 BHK and 3 BHK flats with plinth areas ranging between 1200 sft and 1700 sft and collected Rs 900 crore from 2500 gullible customers. But, he failed to keep his promise. There was no sight of the promised flats as the years roll by. The flat buyers, sensing danger, mounted pressure on the realtor, who gave cheques for the amount, along with the interest accrued, and paid by the buyers. However, the cheques were bounced. The buyers lodged a complaint with the police. Therefore, the police took into custody Lakshmi Narayana on December 3 and a lookout notice was issued on Sahiti Infra Director Satwik. The CCS took into custody while he was trying to flee the country for Dubai along with wife. He was sent for remand.
