ACB unearths DA worth Rs 10 crore of Tel govt official

Hyderabad: Jul The Anti-Corruption Bureau (ACB) today unearthed assets worth Rs 10 crore allegedly belonging to a senior official of the Telangana Factories department currently posted in Ranga Reddy district of the state.

On credible information, a case of disproportionate assets was registered against M Venkanna, the Deputy Chief Inspector of Factories, following which searches were conducted simultaneously at his and his relatives’ residences at Hyderabad and other places, an ACB release said.

As per the agency, Venkanna has acquired properties in his name and also in the names of his kin, which include a three-floor building at Madinaguda near here worth Rs 2 crore, 15 house plots, 26 acres of agriculture land, 600 grams gold jewellery, 3.5 kg silver, cash worth Rs 2.74 lakh cash, bank balances worth Rs 3.3 lakh, household articles, a car and a bike, it said.

“As per the documentary value, all these properties are collectively valued at around Rs 3.25 crore. However, their market rate will be around Rs 10 crore,” the release stated, adding that investigation is on.

However, Venkanna has denied the allegations against him.