Hyderabad: Realtor held for cheating tech firm owner of Rs 11.24 crore

Hyderabad: The Raidurgam police on Wednesday arrested businessman and realtor Saranala Sreedhar Rao for allegedly cheating a software company owner of Rs 11.24 crore. According to the police, Sreedhar Rao, who owns several companies, allegedly collected money from one Sreenivasa Hosamane and 11 others on the pretext of providing office space for setting up a […]

Hyderabad: The Raidurgam police on Wednesday arrested businessman and realtor Saranala Sreedhar Rao for allegedly cheating a software company owner of Rs 11.24 crore.

According to the police, Sreedhar Rao, who owns several companies, allegedly collected money from one Sreenivasa Hosamane and 11 others on the pretext of providing office space for setting up a company.

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“Sreedhar Rao allegedly told that he was developing a property at Raidurgam and entered into an agreement to sell 25,898 square feet space for Rs. 17.04 crore. He collected an amount of Rs. 11. 24 crore from them and failed to hand over the property till now,” said Raidurgam Inspector, G Rajagopal Reddy.

When Sreenivasa approached Sreedhar Rao and demanded him to resolve the issue, the latter and his associates threatened him, the Inspector added.
He was produced before court.

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