Explore the ACB investigation into Telangana official Shiva Balakrishna’s Alleged over 300 crore Disproportionate Assets. Uncover the details and legal actions taken in this comprehensive report.
Uncovering Over ₹300 Crore in Disproportionate Assets: Telangana Official Under ACB Investigation
Introduction
The Anti-Corruption Bureau (ACB) in Hyderabad has unearthed over ₹300 crore in disproportionate assets allegedly amassed by Shiva Balakrishna, the Secretary of Telangana State Real Estate Regulatory Authority (TSRERA) and the former Director of Hyderabad Metropolitan Development Authority (HMDA). The ACB’s preliminary findings suggest that Mr. Balakrishna accrued massive wealth by allegedly facilitating permits for numerous real estate companies.
Search Operations Across the State
The ACB’s investigation involved searches at 20 locations, including Mr. Balakrishna and his relatives’ homes and offices. The operation, which commenced at 5 am, covered offices of the HMDA and TSRERA. The officials are probing allegations that Mr. Balakrishna amassed assets beyond his known sources of income. The searches, initiated today, are expected to extend into tomorrow.
Allegations and Legal Action
A case of unaccounted assets has been registered against Mr. Balakrishna, who is suspected of exploiting his official position to accumulate massive wealth. The assets found during the searches include gold, flats, bank deposits, and benami holdings, totaling over ₹100 crore. The inventory of seized items comprises ₹40 lakh in cash, two kilograms of gold jewellery, 60 high-end wristwatches, property documents, and substantial bank deposits. Additionally, 14 phones, 10 laptops, and several electronic gadgets have been confiscated.
Continuing Investigation
The ACB is presently scrutinizing Mr. Balakrishna’s bank lockers and other undisclosed assets, indicating a continuation of the investigation tomorrow. The case underscores the commitment of law enforcement agencies to combat corruption and uphold the rule of law.
Frequently Asked Questions
Q1: What prompted the ACB investigation against Shiva Balakrishna?
The ACB initiated the investigation based on allegations that Shiva Balakrishna exploited his official position to amass assets beyond his known sources of income.
Q2: What kind of assets were found during the searches?
Assets valued at over ₹100 crore, including gold, flats, bank deposits, and benami holdings, were uncovered during the searches.
Q3: What legal action has been taken against Shiva Balakrishna?
A case of unaccounted assets has been registered against Shiva Balakrishna, and the ACB is conducting a thorough investigation to determine the extent of his alleged wrongdoing.
Conclusion
The ongoing investigation into Shiva Balakrishna’s alleged disproportionate assets emphasizes the significance of maintaining transparency and integrity in public offices. The ACB’s efforts to combat corruption serve as a reminder of the commitment to uphold ethical standards and accountability.
