World · India Bureau
Telangana Official Held for Alleged Possession of Assets Worth ₹4.75 Crore
Anti-Corruption Bureau in Telangana has registered a case against an Additional Director of MEPMA for allegedly possessing wealth disproportionate to known sources of income. Searches across 10 locations uncovered properties valued at approximately ₹4.75 crore.
LSN India ·
The Anti-Corruption Bureau (ACB) in Telangana has initiated action against Saiyed Yadagiri Rao Nallagunta, Additional Director of the Micro, Small and Medium Enterprises Development Institute (MEPMA), on charges of holding assets far exceeding his legitimate income.
Following coordinated searches at 10 locations linked to the official, ACB sleuths recovered assets valued at approximately ₹4.75 crore. The seized items include multiple immovable properties comprising residential plots and flats in Hyderabad, a three-storey building estimated at ₹2 crore, along with moveable assets including 1.8 kilograms of gold and 3 kilograms of silver.
Two vehicles, valued at approximately ₹73 lakh, were also recovered during the raids. The discovery of this substantial wealth prompted the ACB to file a formal case of possession of assets disproportionate to known sources of income against the officer, initiating a full-scale investigation into the origins of the accumulated property and valuables.