1 week ago
Telangana Officer Faces Asset Case After Rs 6.87 Crore Raids
Officials searched the home, office and other places linked to a Telangana revenue officer.
They found property papers, cash, gold, vehicles and other valuables.
The Telangana Anti-Corruption Bureau says the assets are worth more than Rs 6.87 crore based on its valuation.
The properties included flats, a penthouse, farmland and plots.
The officer also had invested Rs 86 lakh in a bar and restaurant.
Investigators believe he obtained these assets through corruption and could not explain them through known income.
The properties may be worth more than Rs 50 crore at market prices, according to the report.
The officer was arrested and will be presented before a judge.
The Telangana Anti-Corruption Bureau registered a disproportionate-assets case against revenue officer Desani Srinivas Reddy.
Searches on August 20 uncovered property documents and assets valued by investigators at more than Rs 6.87 crore.
The assets include two flats, a penthouse, 10 acres of farmland, eight open plots and a bar-and-restaurant investment.
Investigators also recovered Rs 4 lakh in cash, bank deposits, 680 grams of gold and five vehicles.
Reddy was arrested and is expected to be produced before a special judge for judicial remand.
- Who
- The Telangana Anti-Corruption Bureau and Desani Srinivas Reddy, a revenue officer working as a divisional administrative officer in Ibrahimpatnam.
- What
- A disproportionate-assets case was registered after searches uncovered assets valued at more than Rs 6.87 crore.
- Where
- Searches took place at Reddy's residence, office and five other locations in and around Ibrahimpatnam and Ranga Reddy district.
- When
- Searches were conducted on August 20, and the case was registered on Thursday.
- Why
- The Telangana Anti-Corruption Bureau alleges that Reddy amassed assets through corrupt practices beyond his known sources of income.
Key facts
- Documented asset value
- More than Rs 6.87 crore
- Reported market value
- The immovable properties are estimated to be worth more than Rs 50 crore at market prices
- Major properties
- Two residential flats, a ground-plus-three penthouse, 10 acres of agricultural land and eight open plots
- Business investment
- Rs 86 lakh invested as Reddy's share in a bar and restaurant
- Items recovered
- Rs 4 lakh in cash, bank deposits, 680 grams of gold, three four-wheelers and two two-wheelers
- Previous case
- A disproportionate-assets case was registered against Reddy in December 2009
- Current status
- Reddy was arrested and is to be produced before a special judge for judicial remand
Sources
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