HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) has lodged a complaint with the Central Crime Station (CCS) against CNN Ventures for deceiving innocent people.
The CCS registered a case under Sections 420, 511 of the IPC. The HMDA stated that the firm made a false representation to accumulate investment from the innocent public and cheat them.
It requested police to take necessary action against CNN Ventures. The firm advertised in some newspapers in order to cheat the public before the completion of the eauction process of Kokapet lands by the central government agency MSTC Limited.
HMDA urged people not to trust such advertisements. Surprisingly, the HMDA came across an advertisement in some newspapers stating ‘The Land Parcel @ Kokapet’ 7.5 acres e-auction through HMDA, calling for prospective bidders to invest in the e-auction bidding by the said firm.
As per the content of the advertisement, the promoters of CNN Ventures are luring citizens with an offer to provide property at 50 per cent of the market price by offering investors with 3BHK, 1,500 sq ft land plus construction cost at a rate of Rs 4,000-4,300/sq ft and promising huge returns. But the HMDA mentioned it has not authorised any parties to advertise the notification and e-auction of the proposed land.