Chennai, Nov 01: CBI today conducted a series of raids in nine places in the city, including a house belonging to a top Hudco officer, in connection with alleged sale of flats constructed by a private builder, with corporation funds, without obtaining no objection certificate from Hudco. Simultaneous raids were conducted in Nagercoil and two places in Hyderabad, where the officer is currently posted, CBI sources said.
Besides the raids on the officer's house, raids were also conducted in the residential premises of some of his subordinate officers who allegedly connived with a building promoter.
The builder had availed of a Rs 15.5 crore loan from Hudco for construction of a multi-storeyed complex, comprising 310 flats, in the city.
The sources said the promoter had already disposed of 125 flats without obtaining the NOC, which was mandatory before selling the flats constructed with corporation funds. The CBI believes that the flats could not have been sold without the connivance of Hudco officials. Bureau Report