Hyderabad, Jul 22 (PTI) The Telangana’s Anti-Corruption Bureau on Wednesday said it registered a case of Disproportionate Assets against a Divisional Engineer, REDCO, and found assets worth over Rs 27.65 crore during searches conducted at his residence and places belonging to his relatives and other associates.
The case of Disproportionate Assets to the known sources of income was registered against M Venkat Ramana, Divisional Engineer, Renewable Energy Development Corporation (REDCO), as he has acquired assets allegedly by indulging in corrupt practices and dubious means during his service, the ACB said in a release.
As the offence is punishable under the Prevention of Corruption Act, 1988 (as amended in 2018), preliminary searches were conducted on Wednesday at his house, office and seven other places belonging to his relatives, associates and “benamidars”, the ACB said.
During the searches, several property documents that include four residential flats, one Ground plus Three (G+3) building, and one Ground plus Five (G+5) building were found, it said.
Further eqnuries revealed that the accused officer had made significant investments in the construction sector through four construction firms registered in the name of his wife.
He has constructed 10 residential apartments at different areas here with an estimated investment of Rs 20 crore.
The market value of these properties is expected to be much higher than the official value, the ACB said.
Further, bank balances amounting to Rs 52 lakh, gold ornaments weighing 2,094 grams, three vehicles, household articles and electronic gadgets and 20 liquor bottles were found during the searches.
The total assets are estimated at about Rs 27.65 crore. Further verification regarding additional assets is underway.
The accused officer would be produced before a city court for judicial remand.
Earlier in 2019, the accused officer, while working as Divisional Engineer (Technical), at the office of Superintending Engineer, allegedly demanded and accepted bribe amount of Rs 25,000 from a complainant for forwarding and processing the final estimation approval file. He was then arrested and a charge sheet was filed, the ACB added. PTI VVK VVK KH
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.