HYDRAA Files Police Complaint, Seeks ACB Probe in Vertex Real Estate Project Controversy
HYDRAA has filed a police complaint and requested an ACB probe into the Vertex Real Estate project controversy, dismissing social media allegations as false and motivated.
HydraaVertex Real EstateAcb ProbePolice ComplaintChaitanya ReddyReal Estate NewsOct 08, 2025
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.
Frequently Asked Questions
What is the main issue in the Vertex Real Estate project controversy?
The main issue is the alleged misuse of HYDRAA's name by individuals who took Rs 50 lakh from Chaitanya Reddy, claiming to mediate a dispute between him and Vertex Real Estate.
Who has filed the police complaint and why?
HYDRAA has filed a police complaint to seek a detailed investigation by the Anti-Corruption Bureau (ACB) into the misuse of its name and the alleged financial fraud.
What is the status of Sunkari Naresh in this case?
Sunkari Naresh, named as the second accused, has been suspended by the Bar Council for using fake academic certificates and is accused of avoiding police interrogation.
What evidence does HYDRAA possess to support its claims?
HYDRAA possesses proof that Chaitanya Reddy paid Rs 50 lakh to Sunkari Naresh and is examining the authenticity of the cheques produced by Naresh.
What steps is HYDRAA taking to ensure transparency and a fair investigation?
HYDRAA is seeking to be impleaded in the ongoing case before the Telangana High Court and has urged the ACB to conduct an independent probe into the case.
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