Hyderabad: Investigations launched by the Anti-Corruption Bureau (ACB) into the alleged illegal assets of Shiva Balakrishna, former planning director of HDMA have revealed that the value of assets beyond income is not Rs 13 crore as initially estimated, but the market value of his properties is more than Rs 250 crore.
The custody of Balakrishna, who is currently lodged in Chanchalguda jail in alleged disproportionate assets case, ended on Wednesday following which, he was again ordered jail custody. ACB sources said Balakrishna was interrogated during the past eight days he was in jail and several unaccounted properties have been unearthed. Most of his illegal income was spent on real estate purchases, ACB sources added.
The investigation so far revealed that there are 214 acres of agricultural land, 29 plots and 8 houses in the names of Balakrishna and his family members. Also, ACB is thoroughly examining the documents seized after conducting inspections at the HMDA headquarters for three days. They are probing into the permissions granted by Balakrishna to various real estate companies.
It has been found that Balakrishna, a resident of Allapuram village of Siddipet district bought 102 acres out of a total of 214 acres in Janagama district alone. This apart, he possesses 66 acres of land in Yadadri Bhuvanagiri district, 39 acres in Nagarkurnool, 7 acres in Siddipet and 0.5 acre in Rangareddy district.
He also has 12 plots in Ranga Reddy district, 8 in Yadadri, 3 in Sangareddy, 2 each in Visakhapatnam and Vizianagaram districts, and one each in Medchal and Medak districts. Apart from a villa in Puppalaguda, there are 4 luxurious houses in Hyderabad and 3 in Ranga Reddy. It is believed that the properties were bought there with the money received while working in Visakhapatnam.
Meanwhile, ACB interrogated Balakrishna's brother Sivanaveen for three days. Shivanaveen's wife Aruna and cousin Penta Bharatkumar are suspected to have accumulated huge assets. The ACB sleuths are focusing on interrogating the three. It has been learnt that investigators may proceed under the Benami Property Transactions Act and parallel investigations may be held by the Income Tax Department and the ED in this case.
During the probe, ACB found 15 bank accounts in the names of Balakrishna and his family members. On opening a bank locker in Balakrishna's name, 18 tolas of gold was found along with a passbook of a graduate. These have been confiscated.
Balakrishna has worked in the offices of HMDA and RERA. Investigations were initiated by ACB after receiving four complaints of irregularities against him. Sudhindra, joint director of ACB, said that the complaints of irregularities allegedly committed by Balakrishna in granting permission to real estate firms are being investigated.
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