Hyderabad Businessman Charged With Rs 58 Lakh Investment Fraud

An area businessman in Hyderabad is now going through a legal case for allegedly defrauding an investor of Rs 58 lakh thru a meals industry undertaking. The Banjara Hills police registered the case on Friday.

The complainant, Kamuni Akshay Nag of Khairatabad, said that the accused, Kanthi Dutt Thonangi, persuaded him to obtain a 10% stake in Winners Eleven Foods between January and March 2024. Akshay additionally discussed that one of the most corporate’s retailers in Banjara Hills used to be at the verge of closure because of monetary difficulties, reported ToI.

Akshay alleges that Dutt had already deliberate to near the Banjara Hills department in December 2023 however persevered to solicit investments. “Dutt provided fabricated bills and accounts when questioned about the business operations,” Akshay claimed.

Following the criticism, Banjara Hills police filed a case towards Dutt beneath sections 318(4) (dishonest and dishonestly inducing supply of belongings), 336(3) (forgery for dishonest), and 316(2) (legal breach of accept as true with) of the BNS.

Dutt has a historical past of an identical fees; the Hyderabad Central Crime Station (CCS) police prior to now charged him with dishonest in February 2025. He used to be additionally arrested by way of Jubilee Hills police final 12 months in a related case involving investor fraud.

Banjara Hills Sub-Inspector Okay Ramesh said, “We are in the process of collecting evidence.”