Telangana - HMDA former director Shiva Balakrishna arrested in disproportionate assets case
Shiva balakrishna, the former director of the hyderabad Metropolitan Development Authority, has been detained for owning excessive assets. A considerable amount of assets were uncovered during a search of his home, prompting his arrest and imprisonment at the banjara hills Police Station. It is believed that he will appear in court today.
While the search at Balakrishna's residence has been completed, inquiries are still underway at four other locations. Additionally, anti-corruption bureau (ACB) officials will open his bank lockers. It is estimated that balakrishna has collected around Rs. 500 crores in illicit assets as a result of his close relationship with a top IAS officer and the concealment of his status. A complaint regarding excessive assets has already been filed against him.
So far, assets found include Rs. 40 lakhs in cash, five crores in gold, papers about immovable properties, 70 acres of land, residences, 60 luxury watches, 100 mobile phones, four automobiles, and ten laptop computers. Furthermore, balakrishna had cash-counting equipment at his home. Officials expect that following the opening of his bank lockers and the investigation of his relatives' homes, further valuables will be revealed.
While the search at Balakrishna's residence has been completed, inquiries are still underway at four other locations. Additionally, anti-corruption bureau (ACB) officials will open his bank lockers. It is estimated that balakrishna has collected around Rs. 500 crores in illicit assets as a result of his close relationship with a top IAS officer and the concealment of his status. A complaint regarding excessive assets has already been filed against him.
So far, assets found include Rs. 40 lakhs in cash, five crores in gold, papers about immovable properties, 70 acres of land, residences, 60 luxury watches, 100 mobile phones, four automobiles, and ten laptop computers. Furthermore, balakrishna had cash-counting equipment at his home. Officials expect that following the opening of his bank lockers and the investigation of his relatives' homes, further valuables will be revealed.
The acb has indicated that it will question officials affiliated with Balakrishna. The value of the assets discovered as of wednesday evening surpasses Rs. 100 crores on the open market, making it the largest-scale property seizure in previous acb searches.