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ACB unearths unaccounted assets worth Rs 2 crore in raids

Last Updated: Friday, October 8, 2010 - 23:29

Hyderabad: The Anti-Corruption Bureau (ACB) on Friday unearthed disproportionate assets worth over Rs 2 crore allegedly belonging to a Deputy Commissioner (Commercial
Taxes) in Kadapa district of Andhra Pradesh.

Simultaneous searches carried at the residence of K Srinivas Rao, Deputy Commissioner, Commercial Taxes in Kadapa and his relatives and friends in Guntur district, Tirupati and
Hyderabad, unearthed the disproportionate assets to a tune of Rs 2 crore, an ACB release said.
Immovable assets including 4 plots, 3 apartments, 2 buildings, 14 acres of agricultural land, net cash of Rs 11 lakh, gold weighing 300 grams, fixed deposits in various banks
and Post Offices worth Rs 1.10 crore and bank balances worth Rs 19 lakh were exposed in the raids, it said.

The case is under investigation, the release added.


First Published: Friday, October 8, 2010 - 23:29
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