Hyderabad: ACB officials raided the deputy chief inspector of factories (Hyderabad region) Y. Gangadhar Reddy and found illegal assets worth crores.
ACB teams conducted raids at four different locations till late in the evening and unearthed assets worth Rs 12 crore in market value. This is the second case involving factory inspectors in July. Two weeks ago raids were conducted on RR district deputy chief inspector of factories M. Venkanna and his relatives and assets worth around Rs 10 crore were found.
During the raids on Y. Gangadhar Reddy ACB officials found that many properties were registered in the name of relatives.
The raids at three locations in Hyderabad and at his in-laws place in Nizamabad district revealed that he had acquired 85 acres of farmland, two houses and eight plots at various places.
Searches revealed that the officer had a duplex house at Kukatpally worth Rs 85 lakh, a two-storied house at Nizamabad worth Rs 30 lakh, 85 acres of farmland in Nizamabad worth Rs 55 lakh, 0.13 guntas land in Shadnagar worth Rs 1.62 lakh, open plots at Hydernagar, Gajula-ramaram, Patancheru, Keesara, Shadnagar and Nizamabad worth around Rs 62 lakh, gold jewellery weighing 22 tola worth Rs 2 lakh, 4.5 kg silver, Rs 6.15 lakh cash, fixed deposits worth Rs 17.25 lakh, investments in chit funds worth Rs17.32 lakh, bank balances of Rs 5.57 lakh, household articles worth Rs 10 lakh, two bikes and a car costing Rs 6 lakh.
The purchase value of the above properties is approximately Rs 3 crore, but the market value is approximately Rs 12 crore said an official release from the ACB.
Gangadhar Reddy was arrested and produced before the ACB court in Hyderabad.
