Hyderabad, Apr 16 (PTI) The Enforcement Directorate on Wednesday carried out raids at multiple locations here as part of a money laundering investigation linked to alleged fraud with real estate investors, official sources said.

The action is being taken against the Surana Group and Sai Surya Developers. The raids are being undertaken at premises located in Secunderabad, Jubilee Hills and Bowenpally, the sources said.

The investigation under the PMLA pertains to alleged non-delivery of real estate projects on time.

The owner of Sai Surya Developers, Kancharla Satish Chandra Gupta, is facing a police probe for alleged delivery default of a project named ‘Green Meadows’.

Actor Mahesh Babu was the brand ambassador of the project, they said. However, there are no allegations against him as of now.

The sources said a 32-year-old software engineer had filed a cheating case with the local police against Gupta and his company, a prominent real estate firm based in Vengal Rao Nagar, Hyderabad.

According to the complaint (registered at the Madhura Nagar police station) Nakka Vishnu Vardhan, along with several others collectively invested an amount of more than Rs three crore in Sai Surya Developers’ Green Meadows’ venture – a 14-acres land in Shadnagar – in April 2021.

The others who invested in the said project include Dr Sudhakar Rao, Srikakulma Vital Mahesh, Rajesh, Srinath, K Harish, Kotla Shashank, Ravi Kumar, K Prabhavathi, Venkat Rao, and Krishna Mohan, the sources said.

The Surana Group too is being probed in the said case, they said. PTI NES DV DV