Hyderabad: The Economic Offences Wing (EOW) of the Cyberabad police has registered a criminal case against Kukatpally-based entrepreneur M Sandhya Rani and her associates for allegedly duping investors of over Rs 73 crore through shell firms, forged purchase orders and false promises of high returns. This is the third cheating case registered in the recent past against Sandhya Rani, who is currently in judicial remand.In her complaint, a victim, Kavitha Dhannamaneni (42) from Gachibowli, detailed how the accused, who runs Sri Sai Ram Enterprises in Kukatpally, coaxed her and a friend, D Pranitha, to invest crores of rupees into her business between June 2023 and Aug 2025. The complainant alleged that the accused first won her confidence by paying small profits on modest investments before convincing her to borrow heavily from friends and relatives to bankroll work orders supposedly placed by reputed hospitals, apparel companies and schools.Investigators say the money routed through accounts of four private companies was immediately siphoned off to 13 beneficiary accounts. “We received only Rs 5.8 crore back, and even that, the accused made us invest in fresh orders by showing fabricated documents,” the victim alleged.On July 28, 2025, when the complainant along with Pranitha met the accused at their office in Kukatpally to ask them to return the entire invested amount, they were allegedly threatened. “Sandhya Rani, her husband, Sridhar, their son Koushik, their associates, Ramdas and Subbaraju along with some anti-social elements were present at the office. We asked Sandhya Rani to return our invested amount of Rs 73.17 crore. We did not even ask for interest. But they refused to return the amount and threatened us with dire consequences saying they have political, financial and muscle power,” the complainant alleged.On Sept 20, a case was registered under relevant sections of the BNS and Telangana Protection of Depositors of Financial Establishments Act against Sri Sai Ram Enterprises, Sandhya Rani, Sridhar, Koushik, Ramdas and Subbaraju. “Sandhya Rani and Ramdas were arrested by CCS police on Sept 1 in a similar case registered on Aug 22. They are still in judicial remand in that case. Apart from the CCS case, another cheating case has also been registered against the same accused by the EOW for allegedly duping other victims of about Rs 41.9 crore on Sept 16. The other accused in all three cases are absconding. We will move a petition before the court for custody of Sandhya Rani and Ramdas in the two cases registered with us,” said an EOW investigator.
