Shiva Balakrishna now faces a case of unaccounted belongings.
Luxurious watches and gold jewelry have been among the many belongings value Rs 100 crore recovered from an actual property official throughout anti-corruption raids in Hyderabad. Rs 40 lakh in money and dozens of digital devices have been additionally seized within the disproportionate case by the Anti-Corruption Bureau (ACB).
Shiva Balakrishna, secretary of Telangana State Actual Property Regulatory Authority (TSRERA) the previous Director of Hyderabad Metropolitan Improvement Authority (HMDA), had amassed crores by allegedly facilitating permits for quite a few actual property corporations, alleged the ACB.
The searches have been being held in 20 places together with his and his kin’ homes and places of work. The raiding groups have combed by way of the places of work of the HMDA and RERA too. Mr Balakrishna’s dwelling and different key places linked to the probe have been additionally raided.
The raids revealed flats, financial institution deposits, and benami holdings after allegations that his amassed belongings have been past his identified sources of revenue.
The seized objects embrace Rs 40 lakh in money, two kilos of gold jewelry, 60 high-end wristwatches, property paperwork, and substantial financial institution deposits. 14 telephones, 10 laptops, and a number of other digital devices have been confiscated.
Mr Balakrishna now faces a case of unaccounted belongings. He’s suspected to have exploited his official place to build up huge wealth. The ACB was additionally going by way of his financial institution lockers and different undisclosed belongings.