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A significant cheating case has come to light in Hyderabad involving White Waters Constructions Pvt Ltd and its directors, after a homebuyer alleged she and hundreds of others paid INR 270 crore for flats in the White Waters@Y project near Kukatpally Y-Junction. Complaints highlighted delayed handovers, incomplete construction, and alleged financial irregularities, including mortgaging flats to banks under false names. Buyers formed an association to demand action. The Economic Offences Wing of Cyberabad police registered the case earlier this week and investigations are ongoing, with no arrests reported yet.
Hyderabad's Economic Offences Wing (EOW) of Cyberabad police has registered a cheating case against White Waters Constructions Pvt Ltd and its directors following complaints from a woman and other buyers. The complainant, Bhogadi Sujatha, alleged that the company collected around INR 270 crore from hundreds of customers for flats in its White Waters@Y project near Kukatpally Y-Junction but failed to meet promised delivery deadlines. Advertisement
Sujatha stated that she became aware of the project in 2018 and initially paid INR 11 lakh to reserve a flat. Over the next four years, she transferred a total of INR 68.94 lakh through three bank accounts, bringing her payments to INR 79.94 lakh against an agreed consideration of INR 92.1 lakh. She claimed that the company's directors, Ajay Salike, Tanay Salike, and Vijaya Lakshmi Salike, increased the flat's area from 1,650 sq ft to 1,945 sq ft, raising its cost, but construction lagged significantly.
While Sujatha's 15-storey block remained under construction, she discovered that her flat had been mortgaged to a bank to secure a 1.27 crore loan taken in the name of an alleged imposter, Kumar Sudhir Sheonandan Paswan. She alleged that when confronted, the directors admitted to raising the loan but repeatedly failed to clear it, leaving buyers in a difficult position.
Delays exceeded the two promised handover dates, initially set for December 2024 and then December 2025, prompting buyers to form an association to push for resolution. Members alleged that several flats were sold to multiple buyers. Sujatha also listed 15 other buyers who claimed to have collectively paid INR 9.82 crore toward their flats. She estimated that approximately 500 buyers were affected and the total financial exposure was around INR 270 crore.
According to the complaint, since its launch in 2018, the 816-unit venture has seen only limited progress. Structural work is complete for towers A and B, while tower C and D basements are done. Towers E and F have yet to start. The project's Telangana RERA registration, which has already been extended twice, is set to lapse in June.
Based on her complaint, the EOW registered the case under sections of the Bharatiya Nyaya Sanhita (BNS) and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act, naming the three directors and the company as accused. An EOW official said more than 100 buyers had approached the police because their money remained stuck and the project had not progressed. Investigations are ongoing and no arrests have been made yet. Buyers continue to press for legal remedies and action to recover their investments.
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