Visakhapatnam: The case has been registered against a leading IT company in Visakhapatnam after fraudulently renting the commercial property to Omics International Pvt. Ltd has no ownership rights. The company allegedly misrepresented its ownership and rented the home by exaggerating square feet to charge rent on fake excuses.
According to FIR, the company’s managing director has executed three unregistered lease agreements with Naveen Raju of Omics International. The first agreement, in February 2019, involved leasing the second floor (claimed 37,705 sq ft) at Rs 37 per sq ft. The second and third agreements were made in January 2021—leasing the fifth and sixth floors (claimed 35,872 sq ft) at Rs 58 per sq ft, and the ground floor (4,877 sq ft) at Rs 38.85 per sq ft) at Rs 38.85 per sq ft, conditional registration and lease within 30 days.
However, it was later discovered that the IT company did not hold any valid title or deed of sale. The actual building area is significantly lower – the second floor is 22,623 square feet, and the fifth and sixth floors combined is 24,216 square feet. The company allegedly charged Rs 6.76 lakh rent for the inflated space.
The fraud was revealed when Visakhapatnam’s sub-register refused the lease registration due to lack of ownership documents. The complainant reported financial losses of more than Rs 4.4 crore, including losses in operation and export imports from 2019 to 2022.
Dwarka Police conducted a case against MD on February 20, 2025 under IPC Sections 403, 405, 417, 420 and 156 (3). The court will hear the matter on April 21, 2025.
