Rs 100 crore and counting... ACB unearths disproportionate assets linked to Telangana official (WATCH)
The Anti-Corruption Bureau (ACB) has uncovered alleged disproportionate assets exceeding Rs 100 crore linked to Shiva Balakrishna, the Secretary of Telangana State Real Estate Regulatory Authority (TSRERA) and former Director of Hyderabad Metropolitan Development Authority (HMDA).
In a major development, the Anti-Corruption Bureau (ACB) has revealed findings pointing to over Rs 100 crore in disproportionate assets allegedly linked to Shiva Balakrishna, the Secretary of Telangana State Real Estate Regulatory Authority (TSRERA) and former Director of Hyderabad Metropolitan Development Authority (HMDA).
Preliminary investigations by the ACB suggest that Balakrishna allegedly amassed crores by facilitating permits for numerous real estate companies. The raids, initiated at 5 am on Wednesday, covered 20 locations, including Balakrishna's residence, offices, and properties associated with his relatives. The searches, expected to continue into the next day, targeted key locations linked to the probe.
The ACB teams meticulously combed through the offices of both HMDA and RERA, with a case of unaccounted assets registered against Balakrishna. The investigation indicates suspicions of Balakrishna exploiting his official position to accumulate substantial wealth.
Assets valued at over Rs 100 crore, including gold, flats, bank deposits, and benami holdings, have been uncovered during the searches. Notable items seized include Rs 40 lakh in cash, two kilograms of gold jewellery, 60 high-end wristwatches, property documents, and significant bank deposits. Additionally, 14 phones, 10 laptops, and various electronic gadgets were confiscated.
The ongoing investigation extends to Balakrishna's bank lockers and undisclosed assets, reinforcing the ACB's commitment to unveiling the extent of the alleged disproportionate assets.