ACB raids on tainted Andhra official unearths several hundred crore, four shell companies

The official was arrested and sent to judicial remand.

A day after the Anti Corruption Bureau (ACB) raided the properties of a tainted official in Andhra, it was revealed that he had allegedly amassed disproportionate assets worth Rs 500 crore, and even opened shell companies.
According to reports, Pamu Panddurunga Rao, who is the engineer-in-chief of the Public Health and Municipal Administration, allegedly opened four shell companies on his wife, Rajyalakshmi's name.
"Panddurunga Rao, in order to legitimise the ill-gotten money generated from these shell companies, had even paid income tax on it," the Times of India quoted a senior official saying.
The TOI report adds that raids were conducted at 14 locations across AP and Telangana, with ACB officials unearthing documents of 43 plots and five houses, besides gold and silver jewellery and a bank locker.
The ACB identified the four bogus companies as Sudharma Infotech Ltd, Rajyalakshmi High Tech, HM Technocrat India Pvt Ltd and Lakshmi Hanora Developers.
Stating that Rao owned 2,242 square yards of plots in prime localities Visakhapatnam, Hyderabad, Keesara, and Krishna district, Hindustan Times quoted an official saying, "He was arrested under the Prevention of Corruption Act for possessing assets disproportionate to his income. Investigation is going on into alleged irregularities done by Rao."
After his arrest, he was remanded to judicial custody for 14 days.
Last week, the ACB raided various places belonging to Gajuwaka sub-registrar Venkayya Naidu in Andhra, for allegedly amassing assets disproportionate to his known income.
The raids took place in Visakhapatnam, Tirupati and Rajahmundry, and gold, land documents, and a lot of cash was found.
The sub-registrar had also constructed a six-storey lodge in Tirupati, worth more than Rs 2 crore.Read More...