Economic Offences Wing Takes Action Against Real Estate Firm in Major Fraud Case
The Economic Offences Wing (EOW) of the Cyberabad police has officially registered a cheating case against White Waters Constructions and its directors following serious allegations from a woman who claims the company defrauded her and hundreds of other flat buyers. The total amount involved in this alleged scam is estimated to be approximately 270 crore rupees.
Complaint Details and Financial Impact
The case stems from a police complaint filed on January 30 by Bhogadi Sujatha, a resident of Power Nagar Colony in Moosapet, Hyderabad. In her detailed complaint, Sujatha revealed that she first learned about the firm's White Waters@Y project near Kukatpally Y-Junction back in 2018. She initially paid 11 lakh rupees to reserve a flat in the development.
Over the subsequent four years, Sujatha transferred an additional 68.94 lakh rupees from three different bank accounts, bringing her total payments to 79.94 lakh rupees. This amount was paid against an agreed total consideration of 92.1 lakh rupees for her apartment.
Allegations of Unilateral Changes and Financial Misconduct
Sujatha informed police that the company's directors—Ajay Salike, Tanay Salike, and Vijaya Lakshmi Salike—made unilateral changes to her agreement. They increased her flat's area from 1,650 square feet to 1,945 square feet, which consequently raised the purchase price significantly.
More alarmingly, while her 15-storey block remained under construction, Sujatha discovered that the same apartment had been shown as mortgaged to a bank. The mortgage supported a 1.27 crore rupee loan obtained in the name of an alleged imposter identified as Kumar Sudhir Sheonandan Paswan.
"When confronted about this situation, the directors admitted to raising the loan but repeatedly failed to clear it," Sujatha stated in her complaint.
Project Delays and Multiple Sales Allegations
The White Waters@Y project, launched in 2018 with 816 planned units, has experienced significant delays stretching beyond two promised hand-over dates—December 2024 and December 2025. These persistent delays prompted buyers to form a customer association group to address their concerns collectively.
Members of this group have alleged that multiple flats within the development have been sold to more than one customer, creating a complex web of ownership claims. In her complaint, Sujatha listed details of 15 other customers who together claimed to have paid 9.82 crore rupees to the accused toward flat purchases.
"It is estimated that there are approximately 500 customers and the total amount involved is about 270 crore," the complainant alleged in her formal statement to authorities.
Construction Status and Regulatory Concerns
Despite the project's launch in 2018, construction progress has been minimal. According to the complaint, only structural work on towers A and B has been completed. Tower C and D basements are done, while towers E and F have not even begun construction.
The project's Telangana Real Estate Regulatory Authority (RERA) registration, which has already been extended twice, is set to lapse in June, adding another layer of urgency to the investigation.
Official Police Response and Investigation Status
Based on Sujatha's complaint, the Cyberabad EOW registered a case under various sections of the Bharatiya Nyaya Sanhita (BNS) and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act. The case names Ajay Salike, Tanay Salike, Vijaya Lakshmi Salike, and White Waters Constructions as accused parties.
An EOW official confirmed the scope of the investigation, stating: "More than 100 flat buyers have approached us as their money remained stuck for years and the project has not been completed. The case is under probe. No one has been arrested yet."
The Economic Offences Wing continues to investigate the allegations while more affected buyers are expected to come forward with their experiences regarding the White Waters Constructions project in Hyderabad.
