The Directorate for Enforcement (ED), Hyderabad Zonal Office, carried out on Thursday, July 24, at three places in the city of search operations in connection with the excessive case of assets concerning Siva Balakrishny, suspended director HMDA and Minister Regulatory Regulatory Authorities) and others.
These searches have led to the restoration of several convicts and unanswered cash of 72 ₹ Lakh.
Search was carried out on residences of directors and partners of three real estate companies, Sree Krishna Construction, Quorizon Spaces and Udaya SSV.
The search was carried out in accordance with the provisions of the Money Laundering Act (PMLA), 2002. The investigation stems from the companies registered by the anti -corruption office (ACB), Hyderabad, who accused Siva Balakrishn and other accumulation of accumulation wealth far exceeds their known revenue sources. The company claimed that real estate was obtained not only in his name, but also in the names of family and Benamis members.
According to ED, Balakrishn received unlawful payments from the builders in exchange for favorable steps, such as the building plan sanctions and changes in land use. These criminal proceeds were used to obtain moving and immovable assets on different fronts. The agency said that earlier searches made on July 2 on the Balakrishny and his brother resulted in the seizure of accusing documents and assets of assets.
Documents have proposed extensive negotiations with more real estate agencies. Investigators also found that Balakrishna parked funds with some builders and used vehicles registered under their names. Other companies from ACB argued that Balakrishna received illegal satisfaction for facilitating the height project M/S Udaya SSV projects in Narsingi. Another investigation is underway.
Published – July 25, 2025 20:32
