Hyderabad, Feb 22: A Disproportionate Assets case has been registered against Kandadi Madhusudhan Reddy, Joint Sub-Registrar (SRO-1), Rangareddy District, who is currently under suspension, by Telangana ACB officials.
ACB officials conducted searches today at his residence and 7 other locations linked to his relatives, friends, and other associates.
During the searches, immovable and movable properties i.e., One independent house (G+2) built on 300 sq. yards in ECIL; One open plot and One acre of commercial land in Ibrahimpatnam Mandal; 27 acres of agricultural land and a farmhouse with a swimming pool in Parigi Mandal; Gold ornaments - 1.2 kg; Four wheelers – 3 (Fortuner, Volvo, and Volkswagen); and net cash of ₹9,00,000 were found.
The total value of the assets is estimated at Rs 7,83,35,302/- as per document value.
It was also found that the he had invested approximately ₹80 lakhs in a liquor business under the name ARK Spirits and had floated two shell companies in the names of his wife and children.
Further verification of additional assets is underway. The case is under investigation.
|