Hyderabad, May 29: Anti-Corruption Bureau has registered a disproportionate assets case against Saggam Anantha Laxmi Kumar, General Manager (Engineering), Project Division-VIII of the Hyderabad Metropolitan Water Supply & Sewerage Board, alleging that he amassed wealth far beyond his known sources of income through "corrupt practices and dubious means".
The case was registered under Sections 13(1)(b) and 13(2) of the Prevention of Corruption Act, 1988 (as amended in 2018), following searches conducted at the officer's residence and eight other locations linked to his relatives, friends, benamis and associates.
According to the ACB, investigators unearthed documents related to 18 acres of agricultural land in Nizamabad and Sangareddy districts, six open plots, three flats and an independent house in Hyderabad during the raids.
Officials also recovered approximately Rs 1.10 crore in cash, 2.1 kilograms of gold ornaments, and 9.2 kilograms of silver articles from the accused officer's residence.
The ACB officially pegged the value of the seized assets at Rs 5.88 crore, based largely on registration and documented values. However, officials indicated that the actual market value of the movable and immovable properties could be "many times higher".
Real estate estimates suggest the properties could potentially command a market value ranging between Rs 38 crore and Rs 112 crore. The largest chunk of the suspected wealth is believed to be the 18 acres of agricultural land spread across the Sangareddy and Nizamabad districts.
The six open plots and multiple residential properties in Hyderabad are also likely to carry significantly higher market valuations than their registered values. "Further verification of additional assets is underway
|