The Enforcement Directorate has carried out searches at eight locations as part of its money laundering investigation into M/s Jayathri Infrastructures India Pvt. Ltd., its managing director Kakarla Srinivas and associated firms.
The raids were conducted on the premises of M/s Janapriya Group, M/s Raja Developers and Builders, R K Ramesh, M/s Satya Sai Transport, M/s Sri Gayathri Homes and M/s Siva Sai Constructions. The inquiry began after several FIRs alleged that Jayathri Infrastructures collected nearly ₹60 crore from home-buyers through deceptive pre-launch offers and delivered neither flats nor refunds.
Investigators said the proceeds of crime generated through non delivery of flats were routed through several entities with no genuine business links. Many of these operated from fictitious or residential addresses and acted as conduits to layer investor money through sham transactions.
Searches under Section 17 of the PMLA led to the seizure of digital devices, incriminating papers and the freezing of bank accounts. Material recovered includes records of undelivered units, MoUs, land alienation documents and details showing how the diverted money was moved and parked. Initial scrutiny points to coordinated collusion to siphon investor funds and to divert project land to third parties, instead of genuine buyers.
Srinivas, previously arrested by Hyderabad Police and later released on bail, is currently absconding. The ED said the seized material is under examination and further action will follow under the PMLA.
Published – November 25, 2025 01:32 pm IST
