ED Raids Surana Group, Sai Surya Developers in Hyderabad Over Money Laundering

The Enforcement Directorate (ED) conducted searches at multiple premises linked to Surana Group and Sai Surya Developers in Hyderabad’s Secunderabad, Jubilee Hills, and Bowenpally areas on Wednesday, as part of a money laundering investigation.

The raids target allegations of financial irregularities, including the fraudulent sale of mortgaged plots to third parties without investors’ consent, according to sources familiar with the probe.

The ED’s Hyderabad Zonal Office focused on properties tied to the two real estate firms, seizing incriminating documents and digital devices. Posts on X indicate the investigation involves claims that plots were illegally registered or sold to financiers, such as SRV & TNR Infra-Rajaram and VASGI Venkatesh, bypassing rightful owners.

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The searches follow a pattern of ED actions against realtors, with a December 2024 raid on CSK Realtors and Singh Mansions yielding Rs 6.15 crore in seized assets over similar fraud allegations.

The Surana Group, a prominent conglomerate, and Sai Surya Developers, known for residential projects, face scrutiny for allegedly siphoning funds through deceptive practices. The ED’s probe, under the Prevention of Money Laundering Act (PMLA), 2002, builds on Telangana Police FIRs, though specific details of the current case remain undisclosed. The raids underscore the agency’s crackdown on real estate fraud, a recurring issue in Hyderabad, as seen in prior cases like the Rs 842 crore Sahiti Infratec scam.

As the investigation unfolds, the ED aims to trace the proceeds of crime and hold accountable those involved in defrauding investors, signaling tighter oversight of the city’s realty sector.

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