Telangana Official’s Assets Recovered Worth 100 Crores, Including Cash and Watches
The Anti-Corruption Bureau (ACB) in Telangana has seized assets worth over 100 crores from the premises of an officer, alleging corruption. Shiv Balakrishna, the secretary of Telangana Real Estate Regulatory Authority (TSRERA), along with his associates, had assets confiscated from 20 locations, including their homes and offices.
Among the seized items were 40 lakh rupees in cash, 2 kilograms of gold, 60 luxury watches, 14 smartphones, 10 laptops, and numerous documents related to immovable assets. The total value is claimed to exceed 100 crores, with even a note-counting machine found at Balakrishna’s residence.
Media reports indicate that Balakrishna has been arrested by the ACB. He is accused of misusing his position to amass disproportionate assets. A case has been registered against him for illicit wealth accumulation, and he is expected to be presented in court today.
Balakrishna, a former director of the Hyderabad Metropolitan Development Authority, is alleged to have amassed substantial wealth while holding his position. He is accused of providing permits to many real estate companies, earning millions in commissions.
According to reports, ACB officials are hopeful of finding more cash and assets from Balakrishna. While his home search is complete, investigations are ongoing at four other locations.
Locker facilities in four banks under Balakrishna’s name have also been discovered, which will be opened soon. The ACB has stated that they will also question other officials associated with Balakrishna.
