ED Seizes ₹72 Lakh Cash, Documents in HMDA Scam Probe

Rapid Summary

• The directorate of Enforcement (ED), Hyderabad Zonal Office, conducted searches at three locations on July 24 in connection with a disproportionate assets case involving Siva Balakrishna, the suspended Director of HMDA and secretary-in-charge of TSRERA.
• ₹72 lakh in unaccounted cash and several incriminating documents were recovered during the searches.
• Searches targeted the residences linked to directors and partners of three real estate firms: Sree Krishna Constructions, Quorizon Spaces, and udaya SSV Projects.
• The inquiry was carried out under the Prevention of Money Laundering Act (PMLA), 2002, stemming from an FIR filed by Hyderabad’s Anti-Corruption Bureau (ACB).
• The FIR accused Balakrishna of amassing wealth disproportionate to his known income sources through illicit payments from builders for approvals related to building plans and land use changes.
• Previous searches at Balakrishna’s premises earlier in July revealed property records suggesting extensive dealings with multiple builders and funds parked with them.
• Another FIR alleged illegal gratification for clearing a high-rise project by Udaya SSV Projects at Narsingi. Further investigations are ongoing.

Indian Opinion Analysis

The ED’s crackdown under the PMLA highlights India’s commitment to addressing corruption within regulatory bodies governing real estate development.Cases such as this reflect systemic vulnerabilities where high-ranking officials may exploit their positions for personal gain through illicit transactions. Such practices not only erode public trust but may negatively impact genuine investors seeking transparency in regulatory processes.

The recovery of unaccounted wealth and incriminating documents signals progress toward accountability; however, it underscores an urgent need for stricter oversight mechanisms within urban planning agencies like HMDA or TSRERA. Given real estate’s critical role in economic development across Telangana and India safeguarding thes institutions is essential for lasting growth free from corruption.

Further investigation will test enforcement agencies’ capability to mitigate such activities systematically while ensuring justice serves as both deterrent and reformative measure.

Read more: Published – July 25, 2025