HYDERABAD: The ACB on Wednesday conducted searches at the residence of Renewable Energy Development Corporation (REDCO) Divisional Engineer Muthyam Venkata Ramana and seven other locations and allegedly uncovered disproportionate assets worth Rs 27.65 crore based on document value. Officials said the market value of the assets could be around Rs 150 crore.
Venkata Ramana was earlier trapped in 2019 while accepting a bribe of Rs 25,000.
According to the ACB, the assets include flats in Serilingampally and Kukatpally valued at Rs 1.23 crore, a G+3 commercial building at Anjaneya Nagar in Kukatpally worth Rs 1.82 crore, and a G+5 commercial building at Guttala Begumpet in Serilingampally valued at Rs 2.90 crore.
Further investigation revealed that Venkata Ramana had invested in the construction sector through four firms registered in his wife’s name. Officials alleged that he constructed 10 residential apartment buildings at Anjaneya Nagar, Moosapet and Kukatpally with an estimated investment of Rs 20 crore.
ACB search yields Rs 52L bank deposits, gold worth Rs 2 crore
The searches also yielded bank deposits of Rs 52.02 lakh, gold ornaments weighing 2,094 grams valued at over Rs 2 crore, three vehicles — a Kia, a Mahindra and a Maruti Baleno — worth around Rs 45 lakh, household articles and electronic gadgets valued at Rs 30 lakh, and 20 liquor bottles (19 foreign liquor bottles and one IMFL bottle) worth about Rs 2.5 lakh.
The ACB said Venkata Ramana was earlier trapped while serving as divisional engineer (Technical), Cyber City Circle, Hyderabad, for allegedly taking Rs 25,000 bribe on December 12, 2019, to process a file. He was arrested the following day and later a chargesheet was filed.
During searches conducted on the day of the trap in 2019, officials had seized Rs 26.52 lakh in cash and gold ornaments worth Rs 22.60 lakh.