HMDA Ex-Director Shiva Bala Krishna Faces Severe Allegations of Uncovering Massive Assets Beyond Income
ACB takes him into custody.
Hyderabad, January 25, 2024 – In a significant development, the Anti-Corruption Bureau (ACB) Joint Director Sudhindra revealed the uncovering of assets valued at 300 to 400 crores in the residence of former HMDA Director Shiva Bala Krishna. The market value includes a staggering 84 lakh cash, 2 kg gold, 5.5 kg silver, watches worth 32 lakhs, 3 villas, 3 flats, and 90 acres of land.
ACB officials executed searches at 20 locations, including Krishna’s residence, accompanied by relatives and friends. Seized documents suggest benami investments in multiple properties, totaling around 60 crores in market value. The investigation also points to allegations of benefiting real estate companies during his tenure as Metro Rail Planning Officer and RERA Secretary.
The assets, recognized as exceeding Krishna’s income, comprise acres of land in suburbs, gold ornaments, heavy silver, and over 80 expensive watches. ACB officials are scrutinizing documents from all the locations, including those registered under benami names.
Krishna, who played a pivotal role in the Metro Rail Planning Department, has been detained, and a case has been registered against him. He is set to appear in court tomorrow, where authorities intend to question him further and verify the finances of benami individuals associated with the acquired properties.
The total market value of the seized assets is estimated at 75 crores. ACB officials are intensifying their investigation at four additional locations. Krishna’s non-cooperation during the inquiry has led authorities to consider taking him into further custody, as they believe more information could be revealed through a more thorough investigation.
The seized assets include:
- 84 lakh cash
- 2 kg gold
- 5.5 kg silver
- Watches worth 32 lakhs
- 3 villas
- 3 flats
- 90 acres of land, valuing approximately 60 crores in the market.
- Overall Rs.400crores
HMDA Ex-Director and TS-RERA Secretary Siva Balakrishna Arrested by ACB at 3 am. Court Appearance Tomorrow.
Former HMDA Director and current TS-RERA Secretary, Siva Balakrishna, was apprehended by the Anti-Corruption Bureau (ACB) at 3 am. He is slated to appear in the ACB court tomorrow.
