Who is Sandhya Rani, Accused in Rs 73 Crore Financial Fraud in India

The Cyberabad police Economic Offenses Wing (EOW) has booked Kukatpally-based entrepreneur M. Sandhya Rani for allegedly running a massive financial fraud. Officials said she cheated investors of over Rs 73 crore using shell firms, fake purchase orders, and false promises of high profits.

This is the third major case filed against her in just one month. Police described her as the mastermind of a wide financial scam. Sandhya Rani is currently in judicial custody.

How Victims Were Cheated

The latest case was filed after a complaint by Kavitha Dhannamaneni (42), a resident of Gachibowli. She told police that Sandhya Rani, who owns Sri Sai Ram Enterprises, convinced her and her friend D. Pranitha to invest between June 2023 and August 2025.

At first, small profits were given on minor investments. Later, the victims were urged to bring in larger sums, even borrowing from relatives and friends, for so-called purchase orders from hospitals, schools, and clothing companies.

Police said the money was routed through four shell firms and finally moved into 13 beneficiary accounts. The victims managed to recover about Rs 5.8 crore, but were pressured to reinvest after Sandhya Rani allegedly showed forged business contracts.

Threats at Kukatpally Office

According to the complaint, the fraud reached a turning point on July 28, 2025, when Kavitha and Pranitha demanded their invested amount of Rs 73.17 crore. At Sandhya Rani’s Kukatpally office, they were threatened by her, her husband Sridhar, son Koushik, and associates Ramdas and Subbaraju, along with hired men.

The victims said they were not even asking for interest, only their invested capital, but were told to forget about refunds. They alleged that the accused claimed to have strong political and financial backing.

Series of Cases Against Sandhya Rani

Police records show multiple fraud cases:

• August 22: First case filed. She and Ramdas were arrested on September 1.

• September 16: Another case for duping investors of Rs 41.9 crore.

• September 20: Latest case involving Rs 73.17 crore registered by the EOW.

Some accused remain absconding, police confirmed.

Police Action Underway

The EOW has invoked the Bharatiya Nyaya Sanhita (BNS) and the Telangana Protection of Depositors of Financial Establishments Act. Officers said they would file for custody of Sandhya Rani and Ramdas to question them in the fresh fraud cases.

Sandhya Rani’s Modus Operandi

Investigators revealed that Sandhya Rani floated private firms to lure investors. She used fake purchase orders to build trust, initially paying small profits before expanding the fraud.

Police suspect the siphoned funds were used for luxury spending and political lobbying. With three major cases already in court, authorities believe more victims are likely to come forward.