Hyderabad Directors Accused of Rs 39.74 Crore Fraudulent Diversion

Cyber Crimes

Posted by AI on 2025-12-02 19:26:19 | Last Updated by AI on 2026-03-25 14:03:01

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In a shocking revelation, the Cyberabad Economic Offences Wing (EOW) has uncovered a sophisticated financial fraud within the renewable energy sector. The case involves a staggering Rs 39.74 crore, allegedly diverted from Nature Burn Project Private Limited to another company, Elecon Trading Company, without the consent of all shareholders. This incident has raised concerns about corporate governance and the integrity of business dealings in Hyderabad.

Nature Burn Project, founded in 2014 by Pavan Kumar Reddy and his associates, embarked on an ambitious journey in the renewable energy sector. The company's trajectory seemed promising, especially after Bandi Ram Pradeep Reddy, a Quthbullapur-based businessman, joined as a director in 2021, followed by Sunil in 2022, each holding a significant 33.33% stake. However, the company's success story took a dark turn when it secured a substantial investment for a wind power project.

In September 2024, Nature Burn entered into a landmark agreement with Serentica Renewable India Private Limited to develop a 10-gigawatt wind power project in Andhra Pradesh. Serentica agreed to release Rs 43.5 crore, plus GST, for this venture. The funds were duly transferred to Nature Burn's account in October 2024. However, shortly after, Pavan Kumar Reddy and Ravi Shankar Reddy, a professional director, allegedly transferred Rs 39.74 crore to Elecon Trading Company without the knowledge of the other shareholders. The complainant further alleges that the accused forged shareholder signatures and fabricated documents to gain control over the company.

The EOW has registered a criminal case and is scrutinizing bank transactions, agreements, and digital records to unravel the intricate web of this financial deception. As the investigation unfolds, the case serves as a stark reminder of the need for robust corporate governance and the vigilance required to safeguard investor interests. The public awaits further developments, hoping for justice and a stronger regulatory framework to prevent such fraudulent activities in the future.

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