Hyderabad: The ACB officials raided on the residences of TSRERA, Secretary Shiva Balakrishna and seized over ₹ 100 crore in disproportionate assets on Wednesday.

He was also former Director of HMDA. The ACB officials conducted searched several locations across the State, including Balakrishna and his relatives’ homes and offices, over allegations that Balakrishna amassed assets beyond his known sources of income.

In ACB preliminary findings suggest Balakrishna accrued crores by allegedly facilitating permits for numerous real estate companies. The searches began at 5 am today and covered 20 locations. They are expected to extend into tomorrow. ACB teams combed through offices of the HMDA and RERA.

ACB found assets valued at over ₹ 100 crore, including gold, flats, bank deposits, and benami holdings, have been found during the searches. The inventory of seized items comprises ₹ 40 lakh in cash, two kilograms of gold jewellery, 60 high-end wristwatches, property documents, and substantial bank deposits. Additionally, 14 phones, 10 laptops, and several electronic gadgets have been confiscated.

The ACB is now going through Balakrishna’s bank lockers and other undisclosed assets, signaling a continuation of the investigation tomorrow.