Hyderabad, October 07: A cheating case (Section 420) has been registered against the MD of Ocean Park for duping people in the name of developing a real estate venture.
The managing director of Ocean Park, Venkateshwara Rao, issued advertisements three years back calling for deposits from those who want to buy plots in a real estate venture to be developed at Rachakonda in Nalgonda district.
Depositors later found that the venture, which was promised by Venkateshwara Rao, was on government land.
Based on a petition by Rammoorthy, a resident of Jambagh, the court directed the Afzalgunj police to register a case.
“In our preliminary investigations, we found that Venkateshwara Rao duped the depositors by showing government land as his,” Afzalgunj police sub-inspector Ghulam Rasool said. Police reportedly took Venkateshwara Rao into custody for questioning.
–Agencies–