ACB arrests former HMDA director Balakrishna at 3 am; wealth amassed likely at over Rs 300 cr to Rs 400 cr

HYDERABAD: Former director of Hyderabad Metropolitan Development Authority, Shiva Balakrishna, was arrested by ACB (Anti-Corruption Bureau) officials following the raids at 3 am on Thursday.

The officials conducted a search of Balakrishna's house, which lasted for 24 hours. During the search, they seized 73 watches worth crores of rupees, Rs 84 lakhs in cash, and agricultural land documents worth crores of rupees. Balakrishna is likely to be produced in court today.

In a media briefing, ACB Joint Director Sudhindra said they had completed the raids at Shiva Balakrishna and his relatives' residences. He said the officials had found illegal assets in his possession.

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The ACB Joint Director said that they had identified assets in his name and benami names and stated that the land documents seized would amount to Rs. 60 crores. He said that a case was registered against Shiva Balakrishna and asserted that more charges will be included after custodial investigation.

According to the ACB Joint Director, here are the details of the properties seized

Cash - Rs. 84 lakh

Gold - 2kg worth Rs. 1.20 crore

Silver - 5.5kg worth Ra. 4 lakh

Wristwatches - 73 watches worth Rs. 32 lakh

Villas - 3 villas

Flats - 3

Land - 90 acres.

The land documents of 90 acres, include:

17 acres in Kodakandla

26 acres in Kalvakurti

23 acres in Yadadri

24 acres in Janagaon

Documents for 24 acres in Jangaon were also found, which were registered under benami names.

The ACB JD said that Balakrishna would be questioned along with his benami, and their finances would be verified on Monday. The market value of these assets is estimated to be around Rs. 300 to 400 crores.

Shiva Balakrishna had worked as the Planning Director of HMDA and is currently the RERA Secretary. He worked in Hyderabad Metro Rail planning department also earlier.