Two office-bearers of software employees’ housing association held
The accused allegedly mortgaged property worth ₹75 crore of the Software Engineers Employees Housing & Welfare Association for ₹1.5 crore
The Cyberabad Economic Offences Wing (EOW) arrested two officials of Software Engineers Employees Housing & Welfare Association (SEEHWA) on charge of cheating and criminal breach of trust.
President Gujjuri Ashok Rao and general secretary Uday Kumar Chava were arrested for mortgaging SEEHWA’s land to Gujjuri Ashok Rao illegally without consent of other members in the society, and thereby cheating the members of the association.
The SEEHWA was formed by a group of software employees with its registered office in Club House, Indus Crest, in Sangareddy. The members then purchased six acres and another five acres of land adjacent to it in which 240 apartments and 15 villas were constructed and handed over to the members in 2016, police said.
On April 16, 2024, one of the members took an encumbrance certificate of the land and it was learnt that the two accused mortgaged the property worth ₹75 crores for ₹1.5 crore without the consent of the other members, police said.
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