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HomeEnglish NewsAssets Over ₹ 100 Cr Found At Telangana Official's Homes, Offices

Assets Over ₹ 100 Cr Found At Telangana Official’s Homes, Offices

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Over ₹ 100 crore in disproportionate assets purportedly accumulated by a government official in Telanana has been unearthed by the Anti-Corruption Bureau. The official, Shiva Balakrishna, is the Secretary of Telangana State Real Estate Regulatory Authority (TSRERA) and the former Director of Hyderabad Metropolitan Development Authority (HMDA).
According to the preliminary findings of the ACB, Balakrishna allegedly made crores by facilitating permits for multiple real estate companies.

Concerning claims that Balakrishna accumulated assets beyond his known sources of income, authorities conducted searches at multiple locations throughout the state, including the homes and offices of alakrishna and his relatives.

Twenty locations were searched, starting at five in the morning, which will continue the next day . Teams from the ACB searched the HMDA and RERA offices, raided Balakrishna’s residence, and other significant sites related to the investigation.
Balakrishna has been charged with unaccounted assets since it is believed that he used his official position to amass enormous wealth.
During the searches, assets worth over ₹ 100 crore were discovered, including gold, apartments, bank deposits, and benami holdings. The seized items include property documents, large bank deposits, two kilograms of gold jewellery, sixty luxury wristwatches, and ₹ 40 lakh in cash. Ten laptops, fourteen phones, and a number of electronic devices have also been seized. The ACB is going through Mr Balakrishna’s bank lockers and other undisclosed assets.

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