The Enforcement Directorate (ED) is conducting searches at several locations in Hyderabad today as part of a money laundering probe involving Surana Group and Sai Surya Developers. The ED is searching the properties of the two groups separately at Jubilee Hills and Bowenpally areas in the twin cities of Hyderabad and Secunderabad. As per the official sources, the Sai Surya Developers, a prominent real estate company based in Vengal Rao Nagar in Hyderabad, has a history of criminal cases against them for failing to deliver ventures on time. Its owner, K Satish Chandra Gupth, was booked for Green Meadows venture fraud, for which Mahesh Babu was the brand ambassador.

A 32-year-old software engineer has recently lodged a cheating case against K Satish Chandra Guptha, the proprietor of Sai Surya Developers.

As per the complaint registered at the Madhura Nagar police station, Nakka Vishnu Vardhan, along with several others, had collectively invested a staggering amount of more than three crore rupees in the 14-acre Green Meadows venture in Shadnagar in 2021. Several others also invested in the venture.