HYDRAA Files Police Complaint, Seeks ACB Probe in Vertex Real Estate Project Controversy

Hyderabad: HYDRAA has taken a decisive step by filing a police complaint and seeking a detailed investigation by the Anti-Corruption Bureau (ACB) in the Vertex Real Estate project case. This comes in the wake of a controversy surrounding the Vertex Real Estate project at Mankhal village under Tukkuguda Municipality.

The company, however, dismissed the allegations being circulated on social media as false and motivated propaganda aimed at tarnishing its image.

In an official statement issued here, HYDRAA said it had lodged a complaint with the Pahadisharif Police Station after learning that a few individuals had allegedly misused its name in connection with a dispute between Vertex Real Estate and Chaitanya Reddy. According to the company, these individuals had taken Rs 50 lakh from Chaitanya Reddy, falsely claiming association with HYDRAA.

HYDRAA alleged that Sunkari Naresh, named as the second accused in the case, along with Praveen and Chandu Srinivas, has been avoiding police interrogation and using various tactics to delay the investigation. The company said it has also urged the ACB to step in and conduct an independent probe into the financial and legal aspects of the case, adding that the Bureau had responded positively to its request.

The statement further said that Sunkari Naresh, who has been practicing as a lawyer using fake academic certificates, was suspended by the Bar Council after the forgery came to light. Though Naresh later obtained a stay order on his suspension, HYDRAA said it had confirmation that the certificates were indeed fake.

Hydraa maintained that Chaitanya Reddy had clearly stated he paid Rs 50 lakh to Sunkari Naresh, and the company possesses proof supporting this claim. It further noted that during the course of the police probe, Naresh claimed that Reddy had issued him two cheques, one for Rs 10 lakh and another for Rs 20 lakh, but those cheques were produced four days after the case was registered on September 4. Police are now examining the handwriting on the cheques to establish their authenticity.

HYDRAA accused the suspects of deliberately withholding digital evidence, saying they either claimed their mobile phones were lost or failed to appear when summoned. “If their phones are handed over, the truth will come out,” the company said, adding that such evasive behavior strengthens the need for a neutral inquiry by the ACB.

Reiterating its commitment to transparency, HYDRAA said it would seek to be impleaded in the ongoing case before the Telangana High Court to ensure that a full-fledged investigation takes place. The company expressed confidence that once the ACB begins its inquiry, all facts behind the alleged Rs 50 lakh transaction and the misuse of its name would be brought to light, putting an end to misinformation campaigns being run against it on social media.