Anti-Corruption Bureau raids houses of tainted sub-registrar, kin

Hyderabad: Anti-Corruption Bureau (ACB) on Thursday carried out simultaneous searches at eight places related to tainted sub-registrar T V Ramesh Chander Reddy, his relatives and benamis and unearthed disproportionate assets worth over Rs 10 crore.

Ramesh Chander Reddy was arrested last month for resorting to irregularities while working as sub-registrar at LB Nagar in 2015. He is accused of undervaluing the stamp duty for 10,950 square yards of private land located at Doctors Colony. The land was registered in the name of South India Research Institute Private Limited and the government exchequer lost revenue of Rs 1.30 crore.

Subsequent to his arrest, the sub-registrar was suspended and the ACB sleuths swung into action. Following specific information, ACB carried out searches at his residences and other places and unearthed disproportionate assets. The assets amassed by Ramesh Chander include two flats, about 10 acres of agricultural land, house site at Karmanghat, 3.5 kg of gold jewellery, bank balances worth Rs 1.07 crore, fixed deposits worth Rs 30 lakh, vehicles and other valuables.

The book value of the assets is about Rs 3.65 crore while the market value would be over Rs 10 crore, ACB officials said. It has been found during searches that the tainted official had acquired properties in the name of his family members and benamis apart from acquiring in his name. Further investigations are underway, ACB officials said.