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Telangana: Disproportionate assets case registered against former director of Hyderabad Metropolitan Development Authority
A case of disproportionate assets was registered against Siva Balakrishna, planning officer at Hyderabad Metro Rail Limited and former director of the Hyderabad Metropolitan Development Authority (HMDA). Read further on Dynamite News:
Hyderabad: A case of disproportionate assets was registered against Siva Balakrishna, planning officer at Hyderabad Metro Rail Limited and former director of the Hyderabad Metropolitan Development Authority (HMDA).
"A case of disproportionate assets to the known sources of income was registered against Sri Siva Balakrishna, Planning Officer in Hyderabad Metro Rail Limited, TS, former Director in HMDA, Hyderabad, as he has acquired assets disproportionate to his known sources of income by indulging in corrupt practices and dubious means during his service," as per the Anti-corruption Bureau Hyderabad.
As this is an offence punishable under sections 13(1) (b) and 13 (2) of the Prevention of Corruption Act, 1988 (as amended in 2018), searches were conducted on January 24, 2024, at his house and various 16 other places belonging to his relatives, friends and other associates.
During the searches, a net cash of Rs 99,60,850/-, gold ornaments weighing 1988 gms, and silver ornaments weighing around 6 kg were found in his house and other places.
"Further, documents relating to movable and immovable properties worth around Rs. 5,96,27,495 were also found during searches. The value of properties found during the searches is worth about Rs 8,26,48,999/- (Rs eight crores, twenty-six lakhs, forty-eight thousand, nine hundred and ninety-nine) as per the government value, the Anti-Corruption Bureau Hyderabad stated.
The market value of the movable as well as the immovable properties will be many times higher than the document value. Further verification of additional assets is underway.
"The accused officer was arrested and is being produced before the First Addl. Spl. Judge for Special Police Establishment and Anti-Corruption Bureau Cases," as per the Anti-Corruption Bureau Hyderabad.
The case is under investigation. (ANI)