New Delhi, Dec. 20 -- 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, co...