HYDERABAD: The Central Crime Station (CCS) registered a fresh case against jeweller Thonangi Kanthi Dutt, who was previously arrested in December 2024 for financial fraud. The latest case was filed based on a complaint by Soujanya Jupalli, a Hyderabad resident, alleging that Dutt deceived her into investing crores of rupees in fraudulent business ventures.
According to the complaint, Soujanya Jupalli frequently visited Naomi Restaurant in Jubilee Hills, where she met Kranthi Dutt. He allegedly gained her trust through deceptive means and convinced her to invest in a partnership business. According to the FIR on August 24, 2023, Dutt launched “Shree Smera Hospitality LLP,” making her a partner to establish credibility. From that point, he allegedly extracted between Rs 4.3 to Rs 4.5 crores from her under the guise of expanding the business.
The complainant stated that in October 2023, Dutt claimed to have opened a new branch of Naomi Restaurant in Banjara Hills. However, upon visiting the location, she found minimal business activity. The FIR alleged, “A review of financial records revealed falsified bills and fraudulent transactions. Additionally, rental agreements were not in the company’s name, and the operations reportedly ceased as early as April 2023.”
The FIR stated that Dutt then approached her with another investment opportunity in Khajaguda, promising high returns. She invested further, leading to the project’s launch on March 15, 2024. Additionally, he persuaded her to invest in other projects, including Dakshin Katha South Indian Restaurant and Tritiyaa Fine Jewellers.
The complainant alleged that he misused these investments to secure loans from the Credit Guarantee Funds Trust for Micro & Small Enterprises.
Based on the complaint, CCS, Hyderabad, registered a case under sections 420 and 465 of the Indian Penal Code (IPC) on February 22, 2025. The case has been assigned to SI G. Anil Kumar of the Economic Offences Wing for further investigation.
Previous offences
Dutt was previously arrested by Jubilee Hills Police on December 2, 2024, following complaints from Hyderabad resident Tippala Srija. He allegedly misappropriated investments and forged documents to take over Tritiyaa Fine Jewellers Pvt. Ltd., which was co-founded in June 2023. Srija invested Rs 2.5 crores in August 2023, but within weeks, Dutt forged a resignation letter to remove her as director and installed his mother, Thonangi Sridevi, in her place.
Investigations further revealed that Dutt was involved in financial fraud dating back to 2019. He co-founded Sustainkart Marketplace with fashion designer Shilpa Reddy, securing investments through celebrity partnerships, including Bhoomitra with Keerthy Suresh, Kare & Karess with Kajal Agarwal, and FromVedas with Vedasri Nadendla. The business shut down in June 2023 after alleged misappropriation of funds.
