Satyam Raju’s real estate customers can lose their properties!!





Individuals who bought homes, lands or any other real estate property from Ramalinga Raju or his firms could find all their purchases legally attached. The prosecution against Raju is building up solid evidence to show that all of Raju's real estate ventures were built up using money diverted from Satyam. Especially in the dock are customers who bought high-value flats and bungalows at Raju's prestigious Hill County property. The hill county venture was promoted by Maytas, the infrastructure and real estate wing of Ramalinga Raju's (fake) empire. The investigating agencies have acquired documents to show that Raju had acquired 786 properties under benami names routed through of 134 front companies. The centre has involved the prevention of Money Laundering Act to confiscate properties purchased using tainted money. Because of this people who bought the said properties could also find themselves being served legal notices and the properties seized thereon. Regarding the Hill county property the ED has said that "we can't give any assurance to the customers of Maytas properties and other companies who have bought land or property (from Raju). They have to take legal course to get relief."
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