Hyderabad, Jun 18 : ACB sleuths today unearthed assets worth Rupees 1.63 crore during simultaneous raids at the office and residence of Andhra Pradesh Industrial Infrastructure Corporation Limited Deputy Zonal Manager (Shamshabad Zone) K Gopal Reddy.The sleuths registered a case of disproportionate assets against the accused after conducting simultaneous searches at different places covering his office and residence at Maruthi Nagar, Kothapet and Hyderabad and unearthed movable and immovable assets possessed by the accused in his name and in the names of his family members worth about Rs 1.63 crore, a release here said. The immovable assets include Two G+2 houses (one each at New Maruthi Nagar and L B Nagar in Hyderabad), one Flat at Saroornagar, Eight house plots in and around Hyderabad city. The official value of these immovable properties is to the tune of Rs 1.33 crore. The searches also unearthed Rs 96,000 in Cash, four gold biscuits and gold ornaments weighing about 887 gm worth about Rs 13 lakh, two kg of silver ornaments worth about Rs 50,000, bank balances of Rs 4.18 lakh, one Ford car worth Rs six lakh, one Maruti car worth Rs 1.50 lakh, one Pulsar Motorcycle worth over Rs 40,000 and household articles worth about Rs 3.20 lakh.The total value of the movable assets was about Rs 29.74 lakh. The total recorded value of movable and immovable assets possessed by the accused was about Rs 1.63 crore though the market value of the assets would be more than Rs five crore. The searches were in progress. The accused was arrested and produced before Principal Special Judge for SPE and ACB Cases, Hyderabad, the release added.
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