The Telangana Anti-Corruption Bureau (ACB) claims to have unearthed assets worth about Rs 250 crore, as per market value, belonging to M Kishan Naik, the Deputy Transport Commissioner of Mahabubnagar, who resides in Hyderabad. Naik has also been arrested.
Acting on corruption allegations, ACB officials conducted simultaneous searches at 12 locations, including his residence and the houses of his relatives in Nizamabad and Narayankhed.
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Kishan was posted at various places in the state, but allegedly built a network of contacts in the real estate business in Nizamabad and Sangareddy and invested money in acquiring huge tracts of land, farms, flats, and stakes in hotels and showrooms, the ACB has alleged.
It is also alleged that he had sizeable fixed deposits as well as gold ornaments and two SUVs in the name of his family and relatives.
According to ACB director General Charu Sinha, the raids allegedly revealed extensive properties, including 31 acres of land in Narayankhed, 10 acres in Nizamabad, a 50 percent stake in a hotel in Nizamabad, 3,000 square yards of commercial land leased to a furniture outlet, two flats in Ashok Township in Nizamabad, gold ornaments weighing about one kilogram, and bank deposits amounting to Rs 1.37 crore.
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All relevant property documents have been seized, and further investigation is underway, the ACB said.
The bureau had filed a case against Naik for allegedly possessing assets disproportionate to his income. ACB officials said that while the value of seized properties may be around Rs 12-13 crore, the market value of the residential, agricultural, and commercial properties allegedly runs into around Rs 250 crore.
Officials said that the 31 acres of land in Narayankhed in Sangareddy is worth over Rs 60 crore, while a house in Narayankhed and commercial properties in Nizamabad are valued at over Rs 40 crore.
The ACB has booked Kishan under various sections of the Prevention of Corruption Act.
It is also alleged that he had sizeable fixed deposits as well as gold ornaments and two SUVs in the name of his family and relatives. 
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