Transactions of two realtors under I-T lens
2 years, 4 months ago

Transactions of two realtors under I-T lens

Deccan Chronicle  

Hyderabad: The income-tax department raided two top real estate firms — Vasavi and Sumadhura — in the city on Wednesday. While the two firms have aggressively been launching projects individually, they had recently formed a joint venture and announced what they claimed was an iconic project, Olympus, 44-storey residential towers, in the upmarket Financial District. Recently, Vasavi succeeded in bagging a huge chunk of land from the Hinduja-owned IDL in Kukatpally, following the decision of the state government to allow change of land use and permit constructions in land that was originally meant for industrial purpose. The raids gained significance as they were held just two days after Prime Minister Narendra Modi gave a clarion call to end corruption and family rule.

Vasavi  land  realtors  recently  promoters  vasavi  transactions  minister  prelaunch  lens  projects  sales  raids  firms

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ED files prosecution complaint against Sahiti Infratec Ventures for Rs 842 crore fraud
1 week, 3 days ago

ED files prosecution complaint against Sahiti Infratec Ventures for Rs 842 crore fraud

New Indian Express  

HYDERABAD: Directorate of Enforcement, Hyderabad Zonal office has filed a Prosecution Complaint before the MSJ Court, Hyderabad against M/s Sahiti Infratec Ventures India Pvt. The agency initiated the investigation on the basis of an FIR registered by Telangana Police under IPC, 1860 against SIVIPL, B Lakshminarayan and others for advertising a “Pre-Launch Offer” for the construction of a world-class residential …

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