HYDERABAD: In a startling revelation, the Anti-Corruption Bureau (ACB) has efficiently uncovered property value a staggering Rs 100 crore, allegedly amassed by Shiva Balakrishna, the Secretary of Telangana State Real (*40*) Regulatory Authority (TSRERA) and former Director of Hyderabad Metropolitan Development Authority (HMDA).
Alleged Permit Facilitation Scheme Unveiled
(*10*) findings by the ACB level in direction of Balakrishna’s involvement in facilitating permits for quite a few actual property corporations, resulting in the buildup of crores in disproportionate property.
Massive Raids Across The State
In an in depth operation, ACB officers performed searches at 20 areas, together with the residences and places of work of Balakrishna and his relations. The focus of the raids is on allegations that he amassed property past his recognized sources of revenue. The search, which commenced at 5 am right now, is predicted to proceed into tomorrow.
A case of unaccounted property has been registered in opposition to Balakrishna, elevating suspicions that he might have exploited his official place to build up huge wealth.
Diverse Asset Portfolio Seized
The stock of seized objects throughout the raids is in depth, together with gold, flats, financial institution deposits, and benami holdings, collectively valued at over Rs 100 crore. Notable findings embrace Rs 40 lakh in money, two kilograms of gold jewelry, 60 high-end wristwatches, property paperwork, and substantial financial institution deposits. Additionally, authorities confiscated 14 telephones, 10 laptops, and several other digital devices.
Ongoing Investigation
As the ACB sifts by Balakrishna’s financial institution lockers and undisclosed property, the investigation is ready to proceed tomorrow. The magnitude of the alleged corruption underscores the necessity for a complete inquiry into the actions of the accused official.
