ACB unearths assets worth Rs 1.27 cr during raids

Hyderabad, Oct 24 (UNI) ACB sleuths today unearthed assets worth Rs 1,27,79,000 during simultaneous raids conducted at residential houses and office of an Assistant Executive Engineer of Panchayath Raj Department at Shadnagar of Mahabubnagar district and other houses belonging to his relatives.

According to a press release here, searches were conducted at Saroornagar, Hyderabad, Jogipet, Medak district and Shadnagar, Mahabubnagar district and other places by ACB Officials over the residence and office of accused M Sudhakar, and other houses belonging to his brothers and father-in-law.

Immovable assets, including one five-storied building at Peeraziguda, Uppal, partnership in SRM Junior College at Jogipet of Medak District, two flats at Hyderabad and R R District, six house sites in and around the Hyderabad city, two acres and 20 guntas of agricultural land at Chatanpalli, Mahabubnagar District, share in 33 acres of agricultural land at Bhimaram of Mahabubnagar District, all worth Rs 1,10,00,000 as per documentary value, was recovered during the raids. Market value of the assets would be approximately over two crores, the release said.

Another asset of 30 acres in Shadnagar area, worth Rs 1,02,00,000 in the name of his father-in-law and 11 others, is under verification.

Movable properties unearthed, included four bank accounts in the name of the accused and his family members, with total bank balances over Rs 4,60,000, Ninety tolas of gold jewellery and 2 kgs of silver articles worth Rs 7,00,000, Maruthi Car worth Rs 75,000, TVS Centra motor cycle worth Rs 42,000, household articles worth Rs 1,75,000, insurance policies worth Rs 1,00,000 and net cash of Rs 1,40,000 and fixed deposits of about Rs 87,000, the release added.

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