HYDERABAD: The Anti-Corruption Bureau (ACB) on Wednesday said it has unearthed properties worth Rs 250 crore, allegedly amassed illegally by former HMDA director (town planning) Shiva Balakrishna. Meanwhile, the suspended official moved the City Court for bail in the evening.
The ACB officials have identified 214 acres of land, 29 plots in Telangana and Visakhapatnam in Andhra Pradesh, 19 open plots, seven apartment plots and three villas belonging to Balakrishna and his family members. “The document value of these properties is Rs 13.3 crore and the market value is estimated to be around Rs 250 crore and could be higher too,” a senior ACB official said.
According to sources, the officials seized crucial evidence, in the form of gold and incriminating documents, from Balakrishna’s residence and lockers. On the last day of his eight-day-long custody, which ended on Wednesday, Balakrishna reportedly revealed details of properties acquired under his and his family members’ names.
The sources added that Balakrishna started cooperating with the ACB investigation after officials presented him with documents seized during the raids. His properties mostly include real estate lands registered under his name and his wife’s.
Meanwhile, his brother, Shiva Naveen Kumar, was arrested on Tuesday. Officials are preparing to seek his custody and trying to ascertain the role of other officials in helping Balakrishna acquire the benami properties.
Meanwhile, Balakrishna’s lawyer approached the city court seeking bail on Wednesday evening.
Balakrishna, kin have 214 acres of land in TS, AP
The value of amassed properties is approximately Rs 250 crore, according to market value assessments
Lockers belonging to three other benami holders were opened and scrutinised
Plots of Shiva and family were found in Hyderabad, its outskirts and Vizag
Officials are examining whether he invested the amassed amount in real estate
There is a possibility of three additional arrests in connection with the case