Hyderabad: The Detective Department of Hyderabad City Police has appealed to investors of Dhanwantari Foundation International (DFI) who have not yet submitted their deposit details to the Central Crime Station (CCS), Hyderabad, to do so at the earliest.
The appeal follows the investigation of Crime No. 358/2023, which was registered on December 23, 2023, at CCS Hyderabad under Sections 406 and 420 read with Section 34 of the IPC and Section 5 of the TSPDFE Act.
DFI Depositors Requested to Cooperate With Authorities
According to police, the case was registered based on a complaint filed by Susrala Narsimha Murthy against Dhanwantari Foundation International Trust, represented by its director Dr. P. Kamalakar Sharma and others.
The complaint alleged that investors, including older citizens, were lured on the name of the Brahmin community with assurances of good returns on deposits within a specified period. Investigators stated that approximately Rs. 516 crore was collected from more than 2,000 victims.
During the investigation, CCS officers arrested the prime accused persons and identified properties allegedly acquired by DFI and its floated companies.
Police stated that these assets include nearly 450 acres of land in Telangana and Andhra Pradesh and approximately 3,000 square yards of commercial space in the city.
Authorities submitted proposals to the government for ad-interim attachment of properties and obtained eight government orders. Subsequently, petitions were filed before the Sessions Court, which granted absolute attachment of the properties. Police further stated that the Telangana High Court dismissed criminal appeals filed by DFI challenging the Sessions Court orders.
Officials said depositors who have not submitted their details should do so to enable the Competent Authority to prepare and file the list of depositors under Section 6(4) of the Telangana Protection of Depositors of Financial Establishments Act.
The process is intended to facilitate equitable distribution of sale proceeds after completion of the auction of attached properties.
