- Assets worth Rs 100-150 crore were uncovered in a disproportionate assets case in Telangana
- Searches found flats, commercial buildings, gold, bank deposits, vehicles, and valuables linked to engineer
- Mutyam Venkata Ramana, REDCO engineer, is under probe for amassing wealth beyond known income sources
Assets with an estimated market value of Rs 100-150 crore were allegedly unearthed during Anti-Corruption Bureau (ACB) searches conducted in a disproportionate assets case against a government engineer in Telangana on Wednesday.
The assets include residential flats, commercial buildings, under-construction apartment projects, gold, bank deposits, vehicles and other valuables.
The Telangana ACB registered a disproportionate assets (DA) case against Mutyam Venkata Ramana, Divisional Engineer of the Renewable Energy Development Corporation (REDCO), Khairatabad, Hyderabad, and conducted simultaneous searches at his residence, office and seven other premises linked to his relatives, associates and alleged benamidars.
According to officials, the searches allegedly revealed assets far beyond the officer's known sources of income. The investigation was initiated under the provisions of the Prevention of Corruption Act after the ACB gathered evidence indicating that he had amassed substantial wealth through corrupt practices during his service.
Flats, Commercial Buildings Detected
Among the properties detected were four residential flats in Serilingampally and Kukatpally with an official registration value of Rs 1.23 crore, a G+3 commercial building spread over 160 square yards at Anjaneya Nagar, Kukatpally, officially valued at Rs 1.82 crore, and a G+5 commercial building on 250 square yards at Guttala Begumpet in Serilingampally with an official value of Rs 2.90 crore.
The ACB also found that the officer had allegedly made significant investments in the real estate and construction sector through four construction firms registered in his wife's name. Investigators said he had developed 10 residential apartments currently under construction at Anjaneya Nagar and Moosapet, involving an estimated investment of Rs 20 crore.
Gold Worth Rs 4 Crore, Deposits And Vehicles Found
Apart from immovable properties, officials detected bank deposits of Rs 52.02 lakh, 2.094 kg of gold ornaments worth about Rs 4 crore, three vehicles (Kia, Mahindra and Maruti Baleno) worth around Rs 45 lakh, household articles and electronic gadgets valued at Rs 30 lakh, and 20 liquor bottles worth approximately Rs 2.5 lakh.
The ACB estimated the official value of the assets detected so far at Rs 27.65 crore, while noting that further verification is under way to identify additional properties and investments.
However, real estate experts estimate that the present market value of the assets is substantially higher than the official valuation. Based on prevailing property prices, the overall market value of the detected assets is estimated at approximately Rs 100-150 crore.
Earlier Caught In Bribery Case
The ACB also found that Ramana had earlier been caught in a trap case on December 12, 2019, while serving as Divisional Engineer (Technical) in the Office of the Superintending Engineer (Operations), Cyber City Circle, Hyderabad.
He was allegedly caught accepting a Rs 25,000 bribe for processing a final estimation approval.
During searches conducted following that trap case, officials had seized Rs 26.52 lakh in cash and gold ornaments worth Rs 22.60 lakh. A charge sheet was subsequently filed.
Officials said the accused will be produced before the Special Judge for SPE and ACB Cases in Hyderabad for judicial remand.
The disproportionate assets case remains under investigation, with officials examining financial transactions, benami holdings and possible additional investments linked to the officer and his associates.
