A Hyderabad-based businessman has filed a case against his manager accusing her of taking over his company worth Rs. 11 crore and selling a part of the business for illegal gain.
Ironically, the accused against whom the Mahadevapura police booked a cheating case on April 10, played the role of a whistleblower and helped Lokayukta officials trap a police constable for demanding a bribe to resolve the same case.
Venkatarao Yarlagadda (53), the complainant, set up Richfield Mall at the BMTC bus depot in Whitefield with an initial investment of Rs. 3 crore in 2011 and had appointed Katyayini Shetty manager. Mr. Yarlagadda had assured her that he would share 50 per cent of the profit with her.
Recently, Mr. Yarlagadda went to Hyderabad for medical treatment. Ms. Shetty who was sending him business updates on phone and SMS, later took over the business and claimed to be the owner of the mall, he said in the complaint.
She allegedly changed the name of the company to Comfort Homes Pvt. Ltd. and reportedly sold 25 per cent of the complex through deceit. When Mr Yarlagadda came to know about this, he called her up and objected to it.
In response, she assured him that she would return his investment and promised to share 50 per cent of the profit with him.
But after paying Mr. Yarlagadda Rs. 71 lakh of the Rs. 3 crore which she promised to return, Ms. Shetty started avoiding him. When he tried to contact her, her relatives allegedly threatened him with dire consequences.
Meanwhile, knowing that a complaint has been filed against her, Ms. Shetty’s driver tried to get police support to resolve the issue for which the constable attached to Central Crime Brach allegedly demanded Rs. 50 lakh. Sensing trouble, Ms. Shetty approached Lokayukta and helped the police trap him red-handed. The Mahadevapura police are investigating.