Within a month of the arrest of Bhuvanteza Infra MD, a case has been filed against another real estate company that has collected about Rs. 500 crore from about seven thousand customers and fled with that money. V. Lakshminarayana and Jyoti escaped from the city overnight with all the money collected from the customers. The victims, who came to know about this late, approached the Uppal police station and demanded justice. JV Builders caught the greed of the public, who wanted to earn money easily and quickly.
They said if they invest with them, they will pay high interest. If they deposit one lakh, they will get Rs. 14,000 interest per month; if they deposit ten lakhs, they will get Rs. 20,000 interest every fortnight; and they will have collected crores of rupees. Lands have also been registered in some areas to instill confidence in investors. According to the details of the victims, it is reported that in the past, they started a company in the name of Regal Estate in Narayankhed, Kalvakurti, and collected a huge amount of money with a cashback offer. It is reported that this company has recruited around 500 agents. Now, if the TS RERA authority identifies such fraudulent builders in advance, issues notice to them and takes appropriate action, no problems will recur in the future.
