Former HMDA director Siva Balakrishna, gets bail in Rs 100 cr illegal assets case

HYDERABAD: The Nampally ACB Court has granted bail to former HMDA director Siva Balakrishna and his brother Siva Naveen in a significant development in the ongoing legal proceedings in the illegal assets case.

The court's decision to grant bail with a specified surety amount comes amidst the case involving allegations of possessing assets beyond declared income.

Siva Balakrishna and Naveen, who were previously held in Chanchalguda Jail in connection with the asset discrepancy case, have now been granted bail, signaling a potential shift in their legal status.

Siva was arrested in January. The total value of the properties found during the searches was worth over Rs 100 crore as per the Government value.