The A.C.B. registered a case of disproportionate assets against P Madhusudhan Rao, Architectural Draughtsman, O/o VGTM, Urban Development Authority, Vijayawada and conducted simultaneous searches at different places covering the residential house of A.O., his relatives and friends at Vijayawada, Tirupathi, and Hyderabad, which resulted in unearthing of assets worth about Rs. 1.30 crores.
The assets include, one residential house at Vijayawada worth rupees 3 lakh, House site at Akkarampalli village of Tirupati, worth rupees 50,000, Constructed G+2 building at Tirupati worth rupees 20,00,000, Gold found in the house and bank locker worth rupees 5,30,000, Silver articles worth rupees 60,000, Cash of Rs.13,00,000 (In the house and locker), Hyundai Santro car and Honda Activa motorcycle W/Rs.2,50,000/-, Bank balances of Rs.1,20,000, Promissory Notes of worth rupees 30,00,000, and Household articles worth rupees 1,82,400, The Accused Officer also purchased a Flat at Vijayawada by paying an advance of Rupees 53,00,000 The total assets amounting to Rupees 1.30 crores.
The present market value of the above assets is about Rupees 3 Crores. The case is under investigation. (INN)