HYDERABAD: The Anti-Corruption Bureau (ACB) on Thursday conducted raids on the premises of Divisional Administrative Officer (DAO) Desani Srinivas Reddy and his relatives. They uncovered assets with a document value of Rs 6.87 crore, with the market value estimated to be around Rs 60 crore. Sources said the ACB conducted the raids nearly 17 years after registering a disproportionate assets case against the DAO.
Srinivas Reddy is currently working as the DAO at the Revenue Divisional Office (RDO) in Ibrahimpatnam, Rangareddy district.
Preliminary searches were conducted at his residence, office and five other locations belonging to his relatives, associates and others.
During the searches, officials found documents relating to two residential flats, including one semi-finished flat, at Karmanghat, with a document value of Rs 2.63 crore. They also found documents relating to a G+3 penthouse built on a 233-square-yard plot at Karmanghat, valued at Rs 1.61 crore.
The officials also identified 10 acres and eight guntas of agricultural land at Nallavelli village in Rangareddy district, with a document value of Rs 25.50 lakh, and eight open plots at various locations within the city limits and on the outskirts, valued at Rs 62.84 lakh.
According to the press note, Srinivas Reddy had also invested Rs 86 lakh as his share in the Narendra Bar and Restaurant at Balapur, in partnership with others.
“The market value of the above properties is expected to be much higher than the official value,” the press note stated.
The searches also led to the recovery of Rs 4 lakh in cash and bank balances of Rs 8.60 lakh. Officials found 680 grams of gold ornaments, valued at Rs 58.5 lakh, along with three four-wheelers and two two-wheelers valued at Rs 59 lakh. Household articles and electronic gadgets worth Rs 11 lakh were also identified.
The ACB further found that he had availed a gold loan by pledging 46 tolas of gold with a bank. Verification of additional assets is under way.
Srinivas Reddy was earlier booked in a disproportionate assets case on December 14, 2009, when he was working as a mandal revenue inspector in Maheshwaram mandal.
Officials said he would be produced before the ACB court in Hyderabad for judicial remand. The case is under investigation.
