Overview

• Jagapati Babu appeared before the Enforcement Directorate on September 25 for four hours and was treated as a witness.
• Officials asked him to furnish 15 years of bank statements after presenting records indicating transfers linked to Sahiti entities dating back to 2018.
• The ED collected details of his remuneration and payment methods for Sahiti promotional campaigns to assess whether the transactions were legitimate.
• The case targets alleged pre‑launch real‑estate fraud that authorities say affected more than 700 buyers with losses near ₹360 crore, with funds routed through multiple accounts and shell firms without mandated escrow.
• Earlier actions include the August arrest of former director Sandu Purnachandra Rao and prior custody of MD B. Lakshminarayan, along with seizures, bank freezes, and provisional attachment of assets worth ₹161.5 crore.