Suspended Joint Sub-Registrar in Telangana Acquires Rs.7.83 Cr Assets; DA Case Booked
Reddy invested approximately Rs.80 lakh in liquor business in the name of ARK spirits and has floated two shell companies: ACB
Hyderabad: Telangana Anti-Corruption Bureau (ACB) registered disproportionate assets (DA) against 50-year-old Kandadi Madhusudhan Reddy, who is a Joint Sub-Registrar in Rangareddy district, as he has acquired assets disproportionate to his known sources of income by indulging in corrupt practices and dubious means during his service.
Reddy, a resident of Bhavani Nagar Colony, Kapra, is now placed under suspension.
“As it is an offence punishable under Section 13(1) (b) and 13 (2) of the Prevention of Corruption Act-1988, searches were conducted at his residence and seven other places belonging to his relatives, friends, benamis and other associates on Friday,” the ACB said in a statement here.
During the searches, documents relating to a triplex independent house with ground plus two floors in 300 square yards at Bhavani Nagar Colony in Kapra, an open plot at Chintapallyguda village of Ibrahimpatnam, 27 acres of agricultural land at Naskal village in Parigi mandal and one acre commercial land at Mangalpally village of Ibrahimpatnam were detected.
A farmhouse with a swimming pool worth Rs.1.24 crore at Naskal village in Parigi was also found in addition to net cash of Rs.9 lakh and gold ornaments weighing about 1.2 kg apart from an SUV vehicle and two cars, the statement said.
The worth of all assets is Rs.7.83 crore. The market value of movable and immovable property may be many times higher than the document value. Reddy invested approximately Rs.80 lakh in liquor business in the name of ARK spirits and has floated two shell companies in the name of his wife and children.
“Further verification of additional assets is underway and the case is under investigation,” the statement added.
