Shiva Balakrishna is a former director at HMDA, have a look at his biography
Find out more about him.
On Wednesday, ACB agents carried out simultaneous searches at the homes and workplaces of Shiva Balakrishna, the former HMDA director of planning, and his family members in and around Hyderabad.
Who is ex-HMDA director Shiva Balakrishna, biography, family, career and net worth
HMDA లో 100 కోట్ల అవినీతి అనకొండ – TV9#ShivaBalakrishna #HMDA #tv9telugu pic.twitter.com/mHDOsd6hJi
— TV9 Telugu (@TV9Telugu) January 25, 2024
With reports suggesting a possible connection to corruption during his time at the HMDA, the 18 search teams are concentrating on claims of excessive wealth accumulation.
Although the details of the current investigation are yet unknown, Balakrishna has long been linked to questionable activities and earnings reportedly reaching Rs 200 crore. The raids may continue into Thursday and Friday, according to sources.
Upon arriving at Balakrishna’s residence in Puppalaguda, ACB officials encountered resistance from his family members, who refused to cooperate with the search. According to sources, the inquiry includes examining bank lockers and other immovable assets worth an estimated Rs 100 crore.
Balakrishna’s reputation has long been tainted by suspicion, and many perceive him as a highly corrupt official. The ACB’s swift and well-planned response suggests that there is proof to back up the accusations.
Due to all this, Shiva Balakrishna has become the talk of the town, with many people trying to find out more about him. So, let’s find out more about him:
Who is Shiva Balakrishna?
Shiva Balakrishna is a former director of the Hyderabad Metropolitan Development Authority. He has been in the news because he is currently dealing with a matter concerning unreported assets.
He presently works as the secretary of RERA (Real Estate Regulatory Authority) and was formerly employed by HMDA as the Planning Director. He has previously worked in the planning department of Hyderabad Metro Rail.
It is believed that Shiva Balakrishna used his official position to gain a sizable fortune. Assets worth over ₹100 crore have been found via the searches, including gold, apartments, bank savings, and benami holdings.
The seized items include ₹84 lakh in cash, 2 kilograms of gold jewelry, 5.5 kilograms of silver jewelry, 73 high-end wristwatches, 3 villas, 3 flats, 90 acres of land, and significant bank deposits.
In addition, officials seized ten computers, fourteen phones, and other electronic devices. The ACB’s inquiry, which is looking into Shiva Balakrishna’s bank vaults and undeclared assets, is likely going to continue in the days ahead.
What is his net worth?
According to the ACB JD, Shiva Balakrishna and his unannounced property will be questioned on Monday, and their financial situation will be confirmed. These assets are thought to be worth between Rs. 300 and 400 crores on the market.
Former director of #HMDA, #ShivaBalakrishna, was arrested by #ACB officials, after 24 hr search at his premises, identified properties worth ₹300cr to ₹400cr, including ₹84 lakh cash, 1.2cr gold, 90 acres land, 3 villas…@CVAnandIPS #Hyderabad#ACBraids #TSRERA #Corruption https://t.co/lWtjYrHezc pic.twitter.com/vKqKBHWAZz
— Surya Reddy (@jsuryareddy) January 25, 2024