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Hyderabad News

The Economic Times

Hyderabad / The Economic Times

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Ozone Urbana MD S Vasudevan remanded in ED custody in Rs 927-cr fraud case

S Vasudevan, chairman of Ozone Urbana Infra Developers, was arrested for alleged money laundering activities. The Enforcement Directorate claims he cheated homebuyers out of nearly Rs 927.22 crore by failing to deliver apartments. Investigations reveal that the company collected funds but did not refund deposits to buyers. The ED has also attached properties worth Rs 423.37 crore during the investigation.

2 Oct 2026 5:06 pm