₹72 Lakh Seized in Hyderabad As ED Expands Probe into Suspended HMDA Official’s Illicit Wealth
(Syed Ali Taher Abedi)
Hyderabad, 24 July 2025: The Directorate of Enforcement (ED), Hyderabad Zonal Office, conducted search operations at three locations in Hyderabad under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a disproportionate assets case involving Siva Balakrishna, suspended Director of HMDA and Secretary-in-charge of TSRERA, and others.
The ED’s investigation stems from an FIR filed by the Anti-Corruption Bureau (ACB), Hyderabad, which alleged that Balakrishna acquired assets vastly disproportionate to his known sources of income. These assets, held in his name and those of his family and benamis, were allegedly procured through bribes from real estate developers in return for regulatory favours, including plan approvals and land use changes.
Earlier searches on 2 July 2025 at the residences of Balakrishna and his brother led to the seizure of documents revealing suspicious transactions, connections with multiple realtors, and use of vehicles registered in their names. The documents also indicated the parking of illicit funds with several developers.
In a follow-up action on 24 July, ED conducted searches at the residences of directors and partners of three real estate companies—M/s Sree Krishna Constructions, M/s Quorizon Spaces, and M/s Udaya SSV Projects. The operations resulted in the seizure of incriminating documents and unaccounted cash amounting to ₹72 lakh.
Investigations are ongoing.
