The Anti-Corruption Bureau (ACB) has revealed assets exceeding ₹100 crore allegedly amassed by Shiva Balakrishna, the Secretary of Telangana State Real Estate Regulatory Authority (TSRERA) and former Director of Hyderabad Metropolitan Development Authority (HMDA).
The preliminary findings suggest that Balakrishna accumulated wealth by facilitating permits for various real estate companies. The ACB initiated searches at 20 locations, including Balakrishna’s homes, relatives’ residences, and offices, uncovering assets beyond his known sources of income.
The raids, which began at 5 am, covered HMDA and RERA offices, along with key locations associated with the investigation. Balakrishna is suspected of leveraging his official position to amass significant wealth, leading to a case of unaccounted assets being registered against him.
Assets valued at over ₹100 crore, including gold, flats, bank deposits, and benami holdings, were discovered during the searches. The seized items include ₹40 lakh in cash, two kilograms of gold jewellery, 60 high-end wristwatches, property documents, and substantial bank deposits. Additionally, 14 phones, 10 laptops, and various electronic gadgets were confiscated.
The ACB is currently examining Balakrishna’s bank lockers and undisclosed assets, indicating a continuation of the investigation.
