Shiva Balakrishna, a former HMDA director, was arrested last month in a case involving alleged disproportionate assets totaling Rs 250 crore. The Anti-Corruption Bureau (ACB) investigation revealed a complex network of properties registered under Balakrishna’s name, as well as his family members’ and relatives’, across various districts of Telangana.
The ACB’s probe uncovered a substantial array of assets allegedly amassed by Balakrishna, including 214 acres of agricultural land, 29 plots, seven flats, and a luxurious villa. While the official document value of these assets amounted to Rs 13.3 crore, their market value was estimated to be around Rs 250 crore. Additionally, the ACB identified three individuals suspected of acting as proxies or ‘benamis’ on Balakrishna’s behalf.
After eight days of rigorous interrogation, Shiva Balakrishna was presented before the court and subsequently remanded to Chanchalguda Jail. The ACB expressed its intention to secure his custody once again to delve deeper into the investigation of these allegedly ill-gotten assets. In a significant development, Balakrishna’s brother, Shiva Naveen Kumar, was also arrested after a three-day interrogation period. He is suspected of serving as a benami for his brother’s purportedly illicit gains.
Former HMDA director Shiva Balakrishna, who previously held positions as the Secretary of the Real Estate Regulatory Authority (RERA) and Chief General Manager of Hyderabad Metro Rail Ltd, faced mounting scrutiny following ACB raids. These raids uncovered substantial amounts of cash, along with gold and silver ornaments, further implicating Balakrishna in the alleged corruption scandal.
About The Author: Serves as an assistant editor at GoldAndhra News, where he specializes in delivering comprehensive coverage of political developments in Andhra Pradesh and Telangana. His focus extends to essential news about the Central Government, ensuring a well-rounded and insightful news experience for the audience.