New Delhi, Dec 20 (UNI) The Enforcement Directorate’s (ED) Hyderabad Zonal Office on Saturday arrested Kakarla Srinivas, the Managing Director of Jayathri Infrastructures India Pvt. Ltd.
The ED initiated its investigation based on multiple FIRs registered by the Hyderabad Police. The FIRs were filed against Jayathri Infrastructures India Pvt. Ltd., its Managing Director Kakarla Srinivas, Jayathri Reliabilities India Pvt. Ltd., and others under various sections of the IPC, 1860, and the Telangana State Protection of Depositors of Financial Establishments Act.
These FIRs stemmed from complaints by homebuyers and investors alleging cheating, criminal breach of trust, and misappropriation of funds. The victims were promised pre-launch flats, commercial units, metro-station stalls, and assured rental returns that never materialised.
The ED investigation revealed that Kakarla Srinivas generated Proceeds of Crime (POC) totalling Rs 61 Crore by cheating homebuyers. Bank account analysis showed that the POC was layered through multiple accounts, transferred to group companies, directors, and family members, and involved substantial cash withdrawals. The funds were used to acquire immovable properties, repay unrelated liabilities, and were circulated through proxy entities to conceal their origin and ownership.
While Kakarla Srinivas was initially arrested by the KPHB Police Station and released on bail, he subsequently absconded. He remained untraceable despite multiple summonses issued to his residential and office addresses. Efforts to locate him, including searches at nine premises, were unsuccessful, though incriminating documents were recovered from eight locations.
After developing intelligence over time indicating that Srinivas would likely meet persons in Chennai on December 18, 2025, for a clandestine property transaction, ED officers apprehended him that evening from the Towers Club in Anna Nagar, Chennai.
Srinivas was produced before the Special PMLA Court, which remanded him to judicial custody until December 31. Further investigation is ongoing.
Hyderabad builder held for duping investors of Rs 61cr
