Ex-IAF officer in CBI net for amassing assets worth Rs 12 crore

He is suspected to have been moving funds for a former Congress MP, who is also named in the FIR.

By: Express News Service | New Delhi | Published:October 27, 2016 12:45 am

A former Squadron Leader of the Indian Air Force has been booked by CBI for allegedly amassing assets worth over Rs 11.9 crore. He is suspected to have been moving funds for a former Congress MP, who is also named in the FIR.

The CBI has alleged that former Squadron Leader Polu Sreedhar, in connivance with a former branch manager of Axis Bank’s Najafgarh branch, Manish Saxena, helped the former MP from Tenali in Telangana, Balashowry Vallabhaneni, procure land for Rs 12.5 crore in Delhi’s Najafgarh area.

All three have been booked under the Prevention of Corruption Act. It is being alleged that from 2007 to 2010, Sreedhar, then a Squadron Leader, amassed assets worth Rs 11.9 crore.

When contacted, Vallabhaneni said: “I just bought some land through this IAF officer because he came to me with the offer. CBI got into the act because some cash was given to him which he deposited in his account. Everything is above board. I have given all documents to CBI.” Sources said Vallabhaneni will soon be called for questioning.