Hyderabad CCS Police arrested TTD Board member, Sahiti Infratech Ventures India Pvt Ltd MD Boodhati Lakshminarayana on Friday. He collected around 900 Crore rupees from 2,500 people in the name of various pre-launch projects.
Most of these projects have been stalled due to land problems and HMDA permission issues. The affected formed a group and have been protesting.
Cases have been filed in Madhapur, Jubilee Hills, Pet Basheerpet, and Bachupally police stations.
The money has been directed to various other investments including in Amaravati.
Jagan Mohan Reddy Government nominated him to the TTD board in 2021 on the recommendation of Swaroopananda.
Even though the issue is going on for quite a few months, the AP government did not take care but when his arrest happened on Friday, he was made to resign in a hurry.
