ACB raids the premises of former HMDA director
Telangana. ACB today raided the premises of Shiva Balakrishna, Secretary, Telangana State Real Estate Regulatory Authority (TSRERA) and former Director of Hyderabad Metropolitan Development. ACB has received information that the Secretary has deposited assets with income of more than Rs 100 crore.
Following allegations of amassing wealth disproportionate to known sources of income, ACB officials launched a massive search operation at several places across the state, including Balakrishna’s residence, relatives’ houses and offices. The search, which began at 5 am on Wednesday, spans 20 locations and is expected to extend into the next day.
Accused Shiv Balakrishna is suspected to have amassed substantial wealth by misusing his official position and a case of unaccounted wealth has been registered against him. ACB teams have conducted careful searches at HMDA office at Ameerpet and RERA office at Masab Tank. Along with this, raids were conducted at Balakrishna’s residence and other important places related to the investigation.
How many mobile phones, electronic gadgets, gold jewellery, watches, wads of cash, lands & houses does any person need?.#ACB raids at home of former #HMDA director #ShivaBalakrishna plus 20 other locations; counting still on & search to continue tmrw #Corruption @ndtv @ndtvindia pic.twitter.com/MAhTtZ12H9
— Uma Sudhir (@umasudhir) January 24, 2024
ACB’s preliminary findings suggest that Balakrishna may have earned crores of rupees by allegedly facilitating permits for several real estate companies. Despite the ongoing investigation, family members have reportedly refrained from cooperating with the authorities.
Assets worth more than Rs 100 crore, including gold, flats, bank deposits and benami holdings, have been unearthed during the searches. The list of seized items includes Rs 40 lakh in cash, two kilograms of gold jewellery, 60 expensive wrist watches, property documents and substantial bank deposits. Additionally, 14 phones, 10 laptops and various electronic gadgets have been seized. The ACB is now intensifying the investigation into Balkrishna’s bank lockers and other undeclared assets, hinting at continuing the investigation on Thursday.
