Retired Banjara Hills ACP Defrauded of Rs 2.07 Crore in Secunderabad Property Deal

A 64-year-old retired Assistant Commissioner of Police (ACP) has filed a formal complaint with the Banjara Hills police, alleging that he was defrauded of Rs 2.07 crore by a Secunderabad-based father-and-son duo under the guise of a property sale. The complainant, E Shanker Reddy, is a resident of MLA Colony in Banjara Hills and previously served as the ACP for the Banjara Hills division.

According to the complaint, the alleged fraudulent transactions occurred over a period of more than two years, stretching from May 2020 to October 2022. The dispute centers around a registered sale agreement that was officially signed on October 3, 2022, at the Sub-Registrar Office (SRO) in Bowenpally.

Reddy entered into the agreement with Ranbir Aggarwal, who is the son of Anil Kumar Aggarwal, a businessman residing in P&T Colony in Karkhana, Secunderabad. The agreement was for the purchase of an 863-square-yard plot of land located in Vikrampuri Colony, Secunderabad.

To secure the property, Reddy paid a substantial advance totaling Rs 2.07 crore. These payments were made using a combination of RTGS bank transfers, cheques, and cash payments between May 2020 and October 2022. The agreement stipulated that the remaining balance of Rs 23,04,200 was to be paid within a period of four months or at the time of the property's final registration, whichever date came earlier.

Reddy stated that the Rs 2.07 crore advance was drawn from his post-retirement benefits, his lifetime savings, contributions from his family, and various personal borrowings.

Despite his repeated requests, the serving of legal notices, and several written promises made by the accused, the final registration of the property in Reddy's name was never executed. Following the failure of the sellers to transfer the land, the retired ACP approached the Banjara Hills police to initiate an investigation into the matter.