Hyderabad: The managing partner of a Bowenpally-based private firm engaged in the air-conditioner business has been accused of cheating six city investors of Rs 6.81 crore by promising them 4% monthly returns on investments. The Hyderabad Central Crime Station (CCS) police registered a criminal case on May 4 and launched a probe into the allegations.According to police, the complainant, S Vineela, 40, a resident of Himayathnagar, alleged that I Jaya Sudha, managing partner of Global Cooling Solutions, along with Vijay Kumar and Rajesh, lured her, her close friend and relatives to invest large sums in the firm on the assurance of high monthly profits.Police said Jaya Sudha projected that her firm in Old Bowenpally was engaged in the air-conditioning business. The complainant stated that Jaya Sudha, who knew her and her childhood friend, V Archana, approached them in 2022 and persuaded them to invest in the business, offering 4% returns every month.According to the complainant, Archana invested Rs 2.25 crore, while her husband, A Sharath, invested Rs 1.08 crore. Vineela invested Rs 1.23 crore and her husband, S Prashant, invested Rs 73.5 lakh. Two of her family members, S Pradyumna and S Sheshasai, invested Rs 63 lakh and Rs 38 lakh, respectively, and their acquaintance, Harisha Reddy, invested Rs 50 lakh. “All investments were made between 2022 and 2024,” the complainant told police.According to Vineela, after paying monthly returns initially for a few months to gain their confidence, the accused stopped the payments on various pretexts and, in 2025, they allegedly became inaccessible. “When we visited the office and residence of the main accused, both premises were found locked,” Vineela alleged.After waiting over a year to unsuccessfully attempt to contact the accused, the victims approached CCS police on May 4. A case was registered against Global Cooling Solutions, with its office in Old Bowenpally, Jaya Sudha and her associates, Vijay Kumar and Rajesh, under Sections 420 (cheating), read with 120-B (criminal conspiracy), of the IPC. No arrests have been made yet.
