HMDA Director’s benamis held
THE HANS INDIA |
Feb 10,2018 , 05:35 AM IST
Hyderabad: Even as the Hyderabad Metropolitan Development Authority (HMDA) Planning Director remained absconding in the case of Disproportionate Assets case two of his benamis were arrested, the Anti-Corruption Bureau (ACB) officials said on Friday.
According to ACB officials, A Yadava Reddy, MD, Sri Sai Hari Hara Estates Private Limited of Habsiguda and G Nishanth Reddy of Manchirevula village in Ranga Reddy district were nabbed on Thursday, following investigation into Disproportionate Assets case involving K Purushotham Reddy, HMDA Director.
Nishanth Reddy along with B Srinivasa Reddy acted as benamis of Purushotham Reddy and entered into a development agreement on a project worth about Rs 30 crore. They facilitated Purushotham Reddy to park his ill-gotten money in the real estate and construction business and abetted the offence committed by Purushotham Reddy, the officials said. Both were arrested and produced before the Principal Special Judge for ACB cases on Friday and sent to judicial remand. It may be mentioned here that the ACB officials had recently raided Purushotham Reddy’s residence and found illegal assets of worth Rs 25 crore.
Searches were also carried out at Charan's Life Devices Pvt Ltd situated at Somajiguda to verify for the property documents and jewellery of Purushotham Reddy. Suspecting that the absconding accused may leave the country, the ACB had recently asked the Bureau of Immigration, New Delhi to issue a LOC (Look Out Circular) against Purushotham to all the Immigration Check Posts in the country to intercept and detain him.
In the previous case against Purushotham Reddy, all immovable properties were in his and his wife’s name. To avoid getting caught, he then changed his modus operandi and purchased properties in the name of his benamis, who were close relatives. Further he invested crores of rupees through his benamis in construction business and real estate business, which were detected through call date, partnership deeds and due to the back ground of benamis.
“Further investigation is done against other benamis of Purshotham Reddy. They will be booked under Benami Act, Prevention of Corruption Act and other relevant provisions. The benamis details will be informed to Income Tax Department and Directorate of Enforcement Department for further action against them,” added the officials.