Hyderabad, Jan 25 (PTI) The Anti-Corruption Bureau (ACB) of Telangana has claimed to have found properties worth about Rs eight crore as per government value and net cash of about Rs one crore, during searches against a government official who has since been arrested.
The market value of the movable and as well as immovable properties would be many times higher than the document value and verification of additional assets was underway, the ACB said in a release on Thursday.
A case of disproportionate assets to the known sources of income was registered against Siva Balakrishna, Planning Officer in Hyderabad Metro Rail Ltd and former director in Hyderabad Metropolitan Development Authority (HMDA), as "he has acquired assets disproportionate to his known sources of income by indulging in corrupt practices and dubious means during his service", it said.
As it is an offence punishable as per the Prevention of Corruption Act, searches were conducted on Wednesday at his house and 16 other places belonging to his relatives, friends and other associates.
During the searches, a net cash of Rs 99,60,850, gold ornaments weighing 1,988 gms, silver ornaments weighing around six kgs were found in his house and other places, it said.
Further, documents relating to movable and immovable properties worth around Rs six crore (Rs 5,96,27,495) were also found during searches, it said.
The accused officer was arrested and being produced before a local court, the release added.
The ACB sources on Wednesday claimed that cash of Rs 40 lakh and properties and other valuables worth Rs 100 crore was found during searches on the premises linked to the official. PTI SJR SJR KH