ACB finds disproportionate assets worth Rs 100 crore from top official's residence

HYDERABAD: The Anti-Corruption Bureau (ACB) has found disproportionate assets worth Rs 100 crore from the house of a top official in Telangana. The unaccounted assets were found at the residence of Telangana State Real Estate Regulatory Authority (TSRERA) secretary and former Hyderabad Metropolitan Development Authority (HMDA) director Shiva Balakrishna.

ACB's initial finding is that Balakrishna acquired crores by illegally granting permits to several real estate companies. Earlier there were allegations that Shiva Balakrishna had acquired wealth beyond his means. In the lightning inspection at his house, two kilograms of gold, bank account records with crores of investment, documents of flats, Rs 40 lakhs, 60 branded watches, 14 iPhones, ten laptops, property documents and many other items were found.

How many mobile phones, electronic gadgets, gold jewellery, watches, wads of cash, lands & houses does any person need?.#ACB raids at home of former #HMDA director #ShivaBalakrishna plus 20 other locations; counting still on & search to continue tmrw #Corruption @ndtv @ndtvindia pic.twitter.com/MAhTtZ12H9

— Uma Sudhir (@umasudhir) January 24, 2024

The raids took place at different places in the state at the same time. Apart from Shiva Balakrishna, the houses and offices of his relatives were also searched. Including this, 20 locations were searched, including the offices of the Telangana State Real Estate Regulatory Authority and the Hyderabad Metropolitan Development Authority. ACB stated that the raids will continue.