10 hours ago
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Hyderabad constabulary person urged investors who deposited wealth with the Dhanwantari Foundation International (DFI) and person not yet approached investigators to taxable their details, arsenic authorities determination up with the process of recovering funds done the merchantability of attached properties.
The entreaty comes successful transportation with a cheating lawsuit registered successful December 2023 against DFI, represented by its manager P. Kamalakar Sharma, and others. The organisation is accused of collecting astir ₹516 crore from much than 2,000 investors by promising precocious returns connected deposits and allegedly targeting members of the Brahmin community.
According to police, a lawsuit was registered astatine Central Crime Station (CCS), Hyderabad nether provisions relating to transgression breach of trust, cheating and the Telangana Protection of Depositors of Financial Establishments Act pursuing a ailment by Susrala Narsimha Murthy.
During the investigation, constabulary arrested the premier accused and identified properties acquired done the scheme. These see astir 450 acres of onshore crossed Telangana and Andhra Pradesh, on with astir 3,000 quadrate yards of commercialized abstraction successful a premier country of Hyderabad.
Investigators subsequently secured 8 authorities orders for the ad-interim attachment of the properties. The attached assets were aboriginal made implicit by a sessions court. Police said the Telangana High Court besides dismissed appeals filed by DFI challenging the attachment orders.
Officials person present asked each remaining investors who person not submitted their deposit details to bash truthful astatine the earliest. The accusation volition beryllium utilized by the competent authorization to hole the database of depositors nether the Telangana Protection of Depositors of Financial Establishments Act, enabling the equitable organisation of proceeds erstwhile the attached properties are auctioned.
