ACB raids on HMDA official, Rs 5.5Cr worth assets seized

Hyderabad, Feb 03: The ACB officials conducted raids on Hyderabad Metropolitan Development Authority (HMDA) Director (Planning) K Purushotham Reddy on Friday in connection with a disproportionate assets case registered against him, worth over Rs 5.5 crore were found at his residence and his relatives and associates in Hyderabad city and other places on Friday.

On credible information, a case of disproportionate assets was registered against Reddy, who joined in the Municipal department as a small employee in the cadre of building overseer in 1995, ACB said in a statement here.

Searches resulted in unearthing of immovable assets including G+ 3 house at Mosapaet in Hyderabad and share in three commercial complexes in the city, one Skoda Laura car, Rs 25 lakh worth insurance policies and Bank balance of Rs 20 lakhs.

The document value of the assets unearthed from Reddy was approximately Rs 5.35 crore but the market value of the properties was Rs 25 crore.

The accused officer is absconding and the houses of Reddy and his brother-in-law B Srinivas Reddy were sealed by ACB pending execution of search warrants of ACB court.