HYDERABAD: On Wednesday, the Enforcement Directorate (ED) in Hyderabad carried out searches at several locations associated with suspended HMDA official Shiva Balakrishna. This action is part of an ongoing investigation into alleged disproportionate assets identified by the Anti-Corruption Bureau (ACB).
Shiva Balakrishna, previously a planning officer at Hyderabad Metro Rail Limited (HMRL) and in-charge Secretary of the Telangana Real Estate Regulatory Authority (RERA), was arrested by the ACB on January 25 for possessing assets disproportionate to his known income sources.
The ACB also took his brother, Naveen Kumar, into custody in connection with the case. The ED has initiated an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) and has seized documents from the residences of both individuals in Rajendranagar and Chaitanyanagar.
The agency is investigating alleged quid pro quo dealings between Shiva Balakrishna and major real estate developers in Hyderabad regarding permissions for apartment complexes, villa projects, and land layouts. It is anticipated that prominent realtors in the area may also be questioned during the investigation.
The ED’s pursuit stemmed from the ACB’s FIR, which disclosed that Balakrishna had amassed over 200 acres of agricultural land and various properties, including a villa, valued at approximately ₹250 crore across multiple districts.
Documentation critical to the case was seized during an ACB raid earlier this year at Balakrishna’s luxurious duplex villa in Aditya Fort View, Puppalaguda.
ED Investigation Stalled by Document Shortage
ED officials have raised concerns about a lack of cooperation from the ACB, which has resulted in delays in obtaining necessary documents for the ongoing investigation.
According to agency sources, several pertinent documents remain unshared, hindering the exploration of potential money laundering connections tied to the disproportionate assets.
The latest searches conducted by the ED are expected to focus on tracing financial transactions, investigating benami holdings, and any potential violations of the Prevention of Money Laundering Act (PMLA).
