Daijiworld Media Network – Hyderabad

Hyderabad, Jul 23: The Telangana Anti-Corruption Bureau (ACB) has registered a disproportionate assets case against a Divisional Engineer of REDCO after searches allegedly revealed properties and investments estimated to be worth between Rs 100 crore and Rs 150 crore.

The case has been booked against M Venkat Ramana, who is accused of accumulating assets disproportionate to his known sources of income through corrupt practices during his service.

The ACB conducted simultaneous searches at Ramana’s residence, office and seven other locations linked to his relatives, associates and alleged benamidars.

The searches were carried out under the provisions of the Prevention of Corruption Act, 1988 (as amended in 2018).

According to the ACB, assets identified so far have an official value of over Rs 27.65 crore. The seized assets include four residential flats, a G+3 commercial building, a G+5 commercial building, bank deposits of Rs 52.02 lakh, 2.094 kg of gold ornaments, three vehicles, household articles, electronic gadgets and 20 liquor bottles.

Investigators also found that Ramana had allegedly invested in the real estate sector through four construction firms registered in his wife's name. The firms are reportedly involved in developing 10 residential apartment projects in Hyderabad with an estimated investment of around Rs 20 crore.

Officials said the market value of the properties is much higher than their registered value, and the total worth is estimated between Rs 100 crore and Rs 150 crore. Further investigation is underway to trace additional properties, investments and financial dealings linked to the accused.

The ACB further stated that Ramana had earlier been arrested in a 2019 bribery case for allegedly accepting Rs 25,000 to clear an approval file. A charge sheet was later filed after cash and gold were recovered during the probe.