Hyderabad: The city police’s Central Crime Station (CCS) has registered a case against the owner of a firm claiming to sell bio-cleaner products on charges of cheating several people of 2 crore under the pretence of lucrative business opportunities.
Hiranmahee Kasawaraju, proprietor of Ration Bio Products Private Limited, was booked following multiple complaints. The investigation began following a complaint filed jointly on Jan 27 by Subash, a retired deputy chief engineer from Somajiguda, along with G Vasanth Swaroop and Ashish Mehra.
According to the complaint, in 2021 Subash had invested in Ration Bio Products after the accused promised 40% stake in the company and an annual turnover of 100 crore by March 2024. Subash invested 74 lakh between July and Dec 2023, including funds for a signature outlet at GS Mall, Raj Bhavan Road.
However, Subash neither received the agreed shareholding nor the promised returns. Kasawaraju later issued cheques which bounced and subsequent efforts to recover the investment proved futile, the complaint said.
Other investors were also similarly defrauded. Novai Tek India Pvt. Ltd., represented by Swaroop, was appointed as an exclusive C&F agent for Telangana in May 2024 after paying a refundable deposit of 30 lakh. But Kasawaraju bypassed the C&F agreement, supplied goods directly to others and defaulted on obligations such as shared rent and salaries. The firm had also extended 6 lakh loan to Kasawaraju, which remained unpaid, the complaint said.
Mehra, representing EcoNexus Cleaners, was another victim. As the master franchise holder, he had invested 50 lakh, including showroom expenses. However, the supplied products were past expiry date and substandard. Despite repeated demands, Kasawaraju failed to provide operational or marketing support and issued cheques totalling 4 lakh, which also bounced, he said.
Test reports of the bio-cleaner products revealed them to be near expiry and harmful, violating consumer safety norms. This caused financial losses and raised serious concerns about public safety, the complainant said.
Police investigation revealed that Kasawaraju had earlier defrauded other individuals and organisations, including one K Karunakar of Prizam Solutions, Aditya of Dakshya Agencies and Allam Dharmender of Anand Enterprises. They were also lured into investing substantial amounts under the guise of dealership and distributorship opportunities.
