Hyderabad, July 2 (UNI) Sleuths of Enforcement Directorate (ED) carried out searches at the residence of suspended Hyderabad Metropolitan Development Authority (HMDA) official Shiva Balakrishna at Rajendranagar in the city on Wednesday in connection with a money laundering probe against him.
The raids were also conducted at the residence of Balakrishna’s brother Naveen Kumar’s house in Chanakya Nagar, outskirt of the city.
The ED’s action comes months after the ACB arrested Balakrishna and his brother on January 25 in a Disproportionate Assets (DPA) case.
ACB officials had raided 17 locations, including properties of relatives and associates, leading to the seizure of assets worth over Rs 8.26 crore, according to government value estimates.
The January searches led to the recovery of Rs 99.60 lakh cash, over two kgs of gold, six kg silver ornaments, and documents pointing to assets worth Rs 5.96 crore.
Balakrishna who also served as the Hyderabad Metropolitan Development Authority (HMDA) Director, is accused of accumulating wealth through questionable means and exploiting his official position.
The State government had earlier placed him under suspension after he was arrested in the disproportionate assets (DA) case.
During the searches, the ED seized documents related to properties and financial transactions, said sources.
Based on the inputs from the ACB, the ED issued an Enforcement Case Information Report (ECIR) and registered under the Prevention of Money Laundering Act (PMLA) last year.
