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Thread: Rs 20 crore unearthed

  1. #1
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    Rs 20 crore unearthed


    Raids on KUWSDB chief

    Rs 20 crore unearthed

    DH News Service, Bangalore:


    The Karnataka Lokayukta police on Saturday early morning raided the office, residence and other premises of Mr B Srinivasa Reddy, MD, Karnataka Urban Water Supply and Drainage Board (KUWSDB) and unearthed cash and immovable property, worth more than Rs 20 crore, disproportionate to known sources of income.
    His salary, incentives and ‘legitimate’ perks for the services rendered from his time of appointment, as assistant executive engineer, in 1967 to his superannuation in January 2004 do not exceed Rs 35 lakh, but he is allegedly worth more than Rs 20 crore, if not more.

    The Karnataka Lokayukta police on Saturday early morning raided the office, residence and other premises of Mr B Srinivasa Reddy, MD, Karnataka Urban Water Supply and Drainage Board (KUWSDB) and unearthed cash and immovable property, worth more than Rs 20 crore, disproportionate to known sources of income.

    “After today’s raids we can safely assess that the total worth of Mr Reddy’s assets should be in multiples of crores,” said Karnataka Lokayukta Justice Santosh Hegde. Mr Reddy retired as chief engineer, KUWSDB early in 2004 but was re-appointed in February 2004 as managing director of the Board on contract basis. He was removed in May 2006 by a High Court order against which he appealed in the Supreme Court.


    He was subsequently re-instated on October 5, 2007.

    Giving the details of the raids to reporters in Bangalore on Saturday, Justice Hegde said that the Lokayukta police raided Mr Reddy’s residence in the swank Sadashivanagar area (12th Main) and found several incriminating documents related to his property, besides gold and cash.

    “He told us that he is a tenant and has been living in the house for 25-30 years. We don’t believe this. Among other documents, we found papers showing the purchase of a 40x60 sq ft site on the 9th Main Road, Sadashivanagar; two adjoining house sites in BTM Layout, on which he has built a house on one of them and a service apartment on the other plot,” said the Lokayukta.

    Mr Reddy also reportedly has sites in other prime locations in the City. “He bought one site of 40x60 sq ft in Koramangala in 2003; he has another site of the same dimension in HRBR Layout and one site of 30x40sq ft in Indiranagar is in his wife’s name. In all, he has seven properties including the one he is living in, at Sadashivnagar,” he added.

    Apart from this, the officer has three plots, two of four acres and one of one acre in Thirumanagondanahalli in Anekal taluk.

    “On the one-acre plot he has built Ramanashree Seva Trust - a meditation hall and is building an old-age home there. He has a two-acre plot in Agrahara, Bangalore, another three acres in Kamalahallipura, in his mother-in-law’s name and 33 guntas in Narlur village, in suburban Bangalore. He also has 12 acres of land in H D Kote, Mysore. Each acre of land, I’m told, is worth few crores,” said Justice Hegde.

    The Lokayukta sleuths, on searching his house, found Rs 33,77,000 cash. “He has Rs 35 lakh in Vijaya Bank in his name and Rs 50 lakh in his wife’s name; Rs 15 lakh in Corporation Bank in his name; Rs five lakh in his daughter’s name in State Bank of Mysore (SBM); Rs one lakh in son’s name and Rs three lakh in his wife’s name in the same bank.

    Mr Reddy has two lockers in SBM and Syndicate Bank and has investments and shares worth Rs 15 lakh. He has a Demat account with a share broker,” said Justice Hegde. They also seized 1.5 kg of gold and 10 kg silver.

    Astute businessman

    The KUWSSB top officer has reportedly advanced Rs 1.5 crore to RS Developers and has some business links with Asmita Finance, who have built a hotel in Bangalore suburbs and sold it to Country Club,” he added.

    When interrogated, Mr Reddy told the Lokayukta police that part of the properties is his “ancestral” wealth.

    “We will value the property and investigate the defence taken by the officer. We have seized the documents, his bank accounts and the lockers,” said the Lokayukta. “We would be writing to the Governor suggesting his suspension,” he added.


    BIG BUCKS

    Sreenivasa Reddy, MD, KUWSDB
    *Total earnings, from the time of joining, in 1967 till superannuation, in 2004 - Rs 35 lakh
    * Assets unearthed (as per face value) - more than
    Rs 20 crore
    * 7 properties in prime
    locations in City
    * 7 plots in suburban Blr & HD Kote, Mysore
    * Recovered from home: Cash-Rs 33,77,000
    Gold 1.5 kg; Silver-10 kg
    * Bank accounts - Rs 35 lakh in Vijaya Bank &
    Rs 15 lakh in Corporation Bank in his name; Rs 50 lakh in wife’s name; Rs 5 lakh in daughter’s name; Rs 1 lakh in son’s name and Rs 3 lakh in his wife’s name, in SBM
    * 2 lockers in SBM & Syndicate Bank
    * Investments & shares worth Rs 15 lakh; invested Rs 1.5 cr with RS Developers & has business links with Asmita Finance



    Deccan Herald - Rs 20 crore unearthed



  2. Re: Rs 20 crore unearthed


    Thats a good information.

    Could u please advise, how do i report such scam or raise a request for such raids with Vigilance department on corrupted government officers in educational sector.

    Hope India Foundation
    Chennai

    Transforming India through Transforming Individuals

  3. #3
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    Re: Rs 20 crore unearthed


    hopeindiafoundation,

    Since you are in Chennai, I presume you need the information for Tamil Nadu.

    Please visit:

    Citizens Charter of Directorate of Vigilance and Anti-Corruption

    It has all the details of the officers as well as a "proforma" at the end, for complaints to be made by the public.

  4. #4

    Re: Rs 20 crore unearthed



    Thanks Shri Kariraji. Good information posted for viewing.

    It is a matter of investigation that how he has amased wealth disporportionate to his known source of income. Definitely it has not been done over night. So during the whole service tenure his conduct is with doubtful integrity. As such, how he has been elevated to the rank of Chief Engineer, which shows the corrupt system prevalent in the whole office. This cannot be done without the connivance of the higher-ups. Might be that he was regularly paying to the superiror officers and to the Minister even so that all these activities for the years remained unnoticed and escaped action at earlier period and retired gracefully.

    Now what will happen ? The present registered case shall prolong atleast 10- 20 years period due to the slow judicial process or with inteference by influential personnel. During this long drawn process, the accused shall die a natural death, subsequently the case will be closed. That is what is happening in our Country. Why not our Govt. or Judiciary evolve a system by way of which immediately upon revealing the wealth is disproportinate to the known source of income of an employee, the same to be attached with the Govt. ? I presume the same will never happen because of the involvement from the upper strata. In these circumstances only we Pray to GOD - The Almighty.

    MOHANDAS.



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