ACB seize Rs 4.47 cr From real estate company in Hyderabad

12:52 PM Sep 02, 2020 | PTI |

Hyderabad: The Anti-Corruption Bureau (ACB) of Telangana on Tuesday said it has seized ₹ 4.47 crore of unaccounted money allegedly belonging to the former Director of Insurance Medical Services (IMS) and another official.


An ACB release said, “Rs 3.75 crore unaccounted money of former IMS Director Devika Rani and ₹ 72 lakh of ESI Pharmacist Naga Lakshmi, which was invested with a real estate company in Cyberabad area in Hyderabad for purchase of commercial and residential space, was seized from the real estate firm.”

“Both the officers had invested this “unaccounted” money towards the purchase of six residential flats and about 15,000 square feet of commercial space in the names of their family besides Devika Rani also invested ₹ 22 lakh in the name of benamidars,” it said.

The agency further said it has also identified another ₹ 2.29 crore amount which was paid through cheques and online transfers through various sources to purchase the property and the same is in the process of seizure.

“Both the officers who were already arrested in the Disproportionate Assets case were released on bail by a special court for ACB cases,” it said.


In December 2019, the ACB had said it has unearthed assets worth over ₹ 23.14 crore, allegedly belonging to Devika Rani, who was earlier arrested in an alleged scam in the supply of drugs.

“The market value of these assets could be approximately ₹ 100 crores,” the ACB had said.

The ACB probing the alleged multi-crore scam in the supply of medicines to dispensaries and hospitals here has already arrested over 20 people including the then Director of IMS DevikaRani, some IMS officials, and others since September 2019. Rani’s husband P Gurumurthi, a retired Civil Surgeon, was also arrested by the agency.

The state government has already suspended Devika Rani and other officials.


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