- Phoenix is capable of a multitude of things
- 41 companies under the name of Phoenix, all set up innumerable partnership firms.
- Phoenix operates like a huge giant.
- Phoenix aggressively expanded from 2014 with no limits
- Invest lakhs of rupees – buy thousands of crores of land.
- There is business beyond reckoning .. but there is an invisible Benami system
- Gifts aren’t accountable.
- Phoenix is literally a C/O Benami system
Anybody who sets up a company aims to achieve a good turnover and earn a trademark name for their brand. But, Phoenix itself is soo big that it looks like a registrar of companies. There are certain limitations on the number of companies for which Phoenix could have directors: 10 if public limited companies, and 20 if they are public. It seems like the limits were set just to restrict Phoenix from hitting a century.
His family entered into a real estate company in 2001. Phoenix Infra Tech India Pvt. Ltd. was first started in 2002. Gopi Krishna Patibanda, who has been the MD since then, is the current chairman. Vice President Srikanth Baudiga was the companion.
With time, they understood how the real estate market in Hyderabad works. Buying lands and selling them in plots aggressively, they managed to make good money. On the other hand, they opened multiple companies and joined directors. Apart from family members, they managed to get partners from the real estate and film industry in Mumbai, Bangalore, and Hyderabad.
With looting land against the law on one side, they were diverting the tax money into some other things. Tolivelugu is working hard to reveal the directors behind their shell companies. In time, we will get our hands on the faces of everyone who is playing a role in this scam.
Phoenix’s Plans In Gachibowli
In Gachibowli, a plan was laid to plunder the 42-acre ceiling surplus land vacant next to IKEA. On December 20, 2019, TRS illegally granted permission to buy 42 acres in Survey Nos. 35,36,47 / Part, 53 / Part. The government gave the clearance resulting in a Rs 5,000 crore land scam.
If the constructions were finished and sold, it would have become a Rs 10 thousand crore scam. Bogi Sridhar Rao, who is also a Benami through Quid Pro Co, has been appointed as a director in 14 companies. Phoenix Ventures Pvt. Ltd. and Phoenix Infocity Pvt. Ltd. are the companies behind this massive scam.
Phoenix Ventures Private Limited
Founded in 2004, MD. Gopi Krishna has been the MD of the company ever since it started. Lakhs of rupees have been invested. Suresh’s son Avinash Chukkapalli joined as a director in 2017. In 2021 Rohit Bandari became a director.
Rohit’s former company named Avans Technohobs was transformed into Phoenix IT Infrastructure India Pvt. Another new director is Vinama Srivastava, although he is from Mumbai, he has joined companies to do land business here as a director.
Phoenix Infocity Private Limited
The company was formed in 2003 with Rs 85 crore. The name was changed in the middle. Jagadish Babu Ramanathan and Gopi Krishna have been the directors since 2010. However, in 2018, Vijay Bhasin became the director. The lands in Gatchibauli are being grabbed under this name from the Plot Owners. Vijay Bhasin from Bangalore has been a director of four Phoenix companies for three years.
Along with him, they are also partners in companies set up under the name of Bogi Sreedharan and Paruchuri Naresh Phoenix Technohob Pvt. Ltd. Bogi Sridhar Rao and Avinash Chukkampally are co-directors of Phoenix InfraSpace Pvt. Ltd. and Phoenix InfraSoft India Pvt. This means that 3 benami companies are trading together in Gatchibauli lands.
In this, along with Bogi Sridhar Rao, who says that Yuvaraja is their Benami, who are the investors in Paruchuri Naresh, Vijay Bhasin, Rohit Bandari, and who are the beneficiaries? However, in these lands, while the cases are pending in the High Court and the Supreme Court, the Advocate General has to file a report on the excess lands. With advocate, Ramchandra Rao giving a legal opinion, and AP Minister Mekapati Gautam Reddy owning lands here is creating quite a mystery.
One could get a glimpse at the full picture only when the forensic audit takes place. Meanwhile, in the adjoining 16-acre Phoenix just completed building structures.
Andhra Pradesh Minister Mekapati Gautam Reddy owns a large number of government lands under the names of Sai Ashwika Properties, Sai Niharika, Sai Ananya, and Krishnarjuna Properties. This is how Tolivelugu will continue digging into the series of scams done by Phoenix.
Phoenix Global Space Pvt. Ltd. for building on a 10-acre pond
Phoenix Global Space Pvt. Ltd. a company formed in September 2018 with a budget of Rs. one lakh has grown exponentially by 2020 March as the value of each acre has gone up as much as Rs 80 crores, where they owned over 10 acres, summing it up to Rs 800 crore. The precise location is Survey No. 272,273 at Nursing-2 Pond (HMDA Lake ID 2939).
In the master plan of HMDA, it is clearly called a pond, where one cannot build anything. But they illegally obtained permits for the plots with numbers: 272 / P, 273 / P from TSIIC to do business worth Rs 5,000 crore. Sales began as soon as the cellar is finished. The case was still in progress in the National Green Tribunal Chennai Bench, and Phoenix has already begun selling its properties. This behavior clearly reflects up to what extent the authorities were cooperating with them.
Suresh Chukkapalli’s sons Avinash Chukkapalli and Akash Chukkapalli are the only ones in the company. No one was allowed to enter the land as Cheruvu Shikham became rightfully their land at a very low price without investment. Otherwise, it is believed that somebody from Mumbai and Bangalore would have been the directors.
Phoenix Residences Pvt. Ltd. for Padmalaya Studio Lands.
Suresh Chukkapalli is the chairman of Phoenix Residences Pvt Ltd, which was set up in 2007 at a cost of Rs 6 crore. But their son Gopi Krishna Patibanda takes care of everything. Pushkar Harshad Ja joined the company in 2017 as a director. He is from Mumbai. Hero Krishna family has taken over lands from the government at a nominal rate for Padmalaya Studio at Survey No. 403 / P in Sheikh Pettah Revenue Filming for the development of the film industry.
Phoenix Residences Pvt. Ltd. builds and operates high-rise buildings on nine acres. The agreements made at the time the lands were taken were struck down. In 2008, G. Telefilmie sold them 5 acres of 20 holes of land. The government issued notices that the land had been illegally sold and the flags were raised. But after the formation of the state of Telangana, Phoenix took over those lands and built some high-rise buildings quickly.
Now they once again undertook constructions on 5 acres illegally without obtaining permits. The apartment is selling for 12 thousand to 15 thousand rupees per foot. Another Rs 5,000 crore is being traded on land that should be used only for film. Hotels are being built along with apartments. Earlier, Minister Harish Rao had said that the land would be privatized. Cases were filed in the High Court. The same TRS. When the party came to power, it gave clearance for 800 crore lands. It is alleged that 14 out of 50 companies have Phoenix directors.
Phoenix IT Space Pvt.
The company was set up in 2013 with a budget of Rs. one lakh. The Key Director of Phoenix. Bogi Sridhar became a partner in 2019. Under this name, Survey Number in Mamidipalli Village Revenue, 7 km from Shamshabad Airport..42, 43,56,57,58,60,63, 42 acres of disputed lands were illegally mutated. Now they are selling plots in that area at a price of Rs 30,000 to 50,000 per yard.
They obtained permissions for the land illegally from HMDA and made it difficult to withdraw cases from the court. With more cases of NO.14838 / 2020 pending from 14840 TO 14842, they are selling the lands here with power abuse. Under the banner of Phoenix Luxury 2, the villas spanning in the area o of 30 acres were built and sold. The value of the land scam that took place here is around Rs 12 crore.
Along with Srihari, these two has started Phoenix IT Private Ltd, Phoenix Sage Space Pvt. Ltd., and Phoenix Tech Developers Pvt. Tolivelugu is working on exposing this further.
There is a lot more to unveil
1. Swear Space Developers LLC as a partner in the illegal acquisition of Root Educational Society land. Formed in 2019 with lakhs of rupees. If Venkata Ramana Murthy Ramapanthula and Srikanth Penke from Phoenix set up the RVR Projects in 2021. Raghu Rayal and Bangalore Realtor Bhaskar Reddy Bommineni became partners in 2021.
Ramana Murthy of Phoenix and Srikanth Penke set up 6 L.L.P companies in a single day. They formed Square Space Developers with Holistic Realtor, Holistic Builders, Holistic IT Developers, Topnotech Multi Wing, Square Space Info as the LLPs. The intent of what these companies have done will be revealed in a few days.
2. Kookat Palli Developers Pvt Ltd was formed in 2010 with a budget of Rs 132 crore. Satya Srinivasa Rao, Finance Director, Phoenix, will be the Director in 2021. Mumbai-based realtors Khareem Qasimali Merchant, Ashwin Puri became partners in 2020, Kostishwar Iyer and Deepak Jagwani in 2021 as partners in the company.
There are allegations that they joined with the directors from Mumbai for the land in Kukatpally. It is learned that an Oil Corporation is planning to clear the land cases in the court.
3. Phoenix Tech Zone Pvt
Ashok Gupta and Nilesh Upendra Jani, a wine merchant in Bangalore, became directors in 2021, the company formed in 2014 by Gopi Krishna and Jagadish Babu Ramanathan with crores of rupees.
4. Multidimensional Cinemas LLC.
The company, which was set up in 2021 with a budget of Rs 1 lakh, was formed with Avinash Chukkapalli, Srinidhi Srihari and Puskar Ram Mohan Rao. Firefox Hotels, Rangoli Creations, P.R. Cinemas and Maddox Cinema formed another company with them.
5. Phoenix Soft Space India Limited & Phoenix Info Build Pvt Ltd
The two companies were formed in 2018. Gopikrishnan, Arpeet Singh, Kapil Mohan Gupta and Avinash Chukkapalli are the directors. Srinidhi Srihari will be the Director in 2020.
6. Phoenix Logistics Pvt.
Although the company was formed in 2003 with a budget of Rs.1 Lakh, in 2015 Mandava Ramakrishna became the director. And in 2010 Phoenix Space Tech Developers Pvt Ltd was formed, while Mandava Ramakrishna and Bogi Sridhar Rao came in 2017.
7. Lapide Beauty India Pvt.
Paruchuri Naresh and Mandava Ramakrishna formed in 2017. Both have been directors in various forms for Phoenix companies. On the other hand, Sun Auto Wild LLP Phoenix Techno Hub, Phoenix Info Space, Phoenix Motors Pvt Ltd, were the three companies that are absolutely untracable.
More information on companies listed at Plot No. 403 at Jubilee Hills Road No. 78, Office at Nanoch Ram Intelligence Survey No. 27, Gatchibauli, and Plot No. 1335, Jubilee Hills Road No. 45 would be visible if we check history of these lands.
Apart from these, there are reports of benami in many partner ship companies. Forensic auditing is required to alleviate all of this. Apart from looting land in Hyderabad, it seems that suitcase companies have been set up and run as businesses to evade taxes in the country.