Two held in disproportionate assets case in Hyderabad

By Author  |  Published: 10th Feb 2018  12:25 am

Hyderabad: The Anti-Corruption Bureau sleuths arrested two persons on Friday in connection with the disproportionate assets case booked against Hyderabad Metropolitan Development Authority Director (Planning) K Purushotham Reddy.

According to ACB officials, the persons arrested were identified as A Yadava Reddy, a managing director of Sri Sai Hari Hara Estates Private Limited, Habsiguda, and G Nishanth Reddy, both of whom were allegedly acting as benamis for assets owned by Purushotham Reddy. They had also entered into an agreement to develop projects worth Rs 30 crore.

“The suspects belong to Purushotham Reddy’s family. They conspired to invest the illegal money in the development of their business. They purchased lands in Manchirevula and wanted to develop them as residential colonies,” a senior investigation officer said. “They were produced before the special judge for ACB cases and remanded in judicial custody. The prime suspect is still absconding with teams still working to trace his hideout,” the official added. Reddy was suspended from duty after the ACB raids.