ACB unearths assets worth Rs 73.42 lakh during raids

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Hyderabad, Oct 31 (UNI) ACB sleuths today unearthed assets worth Rs 73.42 lakh during simultaneous raids carried out at the residence and office of Prohibition and Excise Department Assistant Commissioner S M Rajeshwar Rao and residences of some of his close relatives.

The raids were conducted at Barkathpura and Bowenpalli in Hyderabad, Thimmareddyguda in Shabad mandal and Bibipet village of Nizamabad district and Visakhapatnam, according to a press release here.

Searches resulted in unearthing of immovable assets, including one duplex house at Bowenpalli, one flat at Nallakunta, a plot at Vanasthalipuram, 26 acres of farmhouse with mango garden and a farmhouse at Thimmareddyguda in Shabad mandal along with shares in land in Kakinada, all worth Rs 62 lakh as per the documentary value. The market value of the assets would be approximately one and a half crore.

Moveable properties include four bank accounts in the name of accused and his family members, with total bank balance of Rs 4.92 lakh, gold jewellery worth Rs 1.80 lakh, silver articles worth Rs 10,000, one Ambassador car worth Rs 50,000, one Priya scooter worth Rs 15,000, household articles worth Rs 3.71 lakh and cash of Rs 24,000, the release added.

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