Hyderabad: The Hyderabad Central Crime Station (CCS) has registered a case against Dhanwantari Foundation International Trust (DFIT) for allegedly cheating more than 4,000 victims by luring them in the name of the Brahmin community and promising high returns on deposits within a fixed period. The accused are said to have collected about Rs 516 crore.
Based on a complaint lodged by Susrala Narsimha Murthy on December 23, 2023, a case was registered at CCS under Sections 406 and 420 read with 34 of the IPC and Section 5 of the Telangana State Protection of Depositors of Financial Establishments (TSPDFE) Act against the trust, represented by its director Dr P Kamalakar Sharma, and others. The victims include a large number of senior citizens.
During the investigation, police identified properties allegedly acquired by the trust and its associated companies, including nearly 450 acres of land in Telangana and Andhra Pradesh and about 3,000 square yards of commercial space in prime areas of Hyderabad.
The Deputy Commissioner of Police, Detective Department, Hyderabad, who is the competent authority under the Depositors Act, submitted proposals to the government for ad-interim attachment of the properties, following which eight Government Orders were issued. Petitions were subsequently filed before the Sessions Court, which confirmed the ad-interim attachments and made them absolute.
Challenging these orders, the accused filed criminal appeals before the High Court. However, after considering the counters filed by the competent authority, the High Court upheld the attachments and passed orders appointing a committee comprising a retired district judge as chairperson, the DCP (competent authority), and a senior chartered accountant.
The committee has been directed to proceed with the auction of the attached properties and ensure early disbursement of the recovered amounts to the victims.
