ACB: Ex-HMDA director Balakrishna possessed assets worth Rs 100 crore
The ACB officials have initiated a valuation of seized properties belonging to Balakrishna and his family members
Hyderabad: Former HMDA director and Telangana State Real Estate Regulation Authority (TS RERA) former secretary S. Balakrishna, who was arrested by the Anti Corruption Bureau (ACB) in an illegal assets case, allegedly possessed illegal assets worth Rs 100 crore.
Meanwhile, a court dismissed bail petition filed by Balakrishna for second consecutive time after the ACB officials argued that the accused officer was very influential and may indulge in destroying evidence and influencing witnesses. Based on the ground, the court dismissed the bail plea.
The ACB officials have initiated a valuation of seized properties belonging to Balakrishna and his family members. Sources said that he indulged in amassing illegal properties and made his family members invest in different business activities by investing funds which were obtained from businessmen as mamools.
The investigation agency has seized documents related to open plots, commercial complexes, residential and agriculture lands located at different places in Hyderabad and its surroundings.
“A team of officers have started assessing the value of seized properties based on the market value. A number of high end mobile phones, laptops, and gadgets were seized during the raids. Teams are on job in assessing the value of such properties and will come to a conclusion on the properties amassed by the accused officer,” sources said.
The ACB officials would also take assistance of stamps and registration department officials for finalising the details of properties and its worth.
The ACB had also arrested Balakrishna’s brother Siva Naveen Kumar and both accused have filed for bail plea. The ACB court dismissed both bail pleas after ACB opposed the bail for the accused stating that the case is still under investigation.