Hyderabad, Sept. 30 (Maxim News): The Income Tax Department has initiated action against eight suspected benamis linked to suspended Telangana Deputy Superintendent of Police (DSP) Sankireddy Bheem Reddy in an alleged disproportionate assets case.
The action has been taken under the Benami Transactions (Prohibition) Act, according to reports.
The development follows the Anti-Corruption Bureau’s investigation into alleged assets held in the names of associates and other persons.
The ACB had earlier identified eight suspected benamis connected to Bheem Reddy and conducted searches at their premises.
Officials seized cash, documents and other material allegedly linked to transactions involving the suspended DSP.
ACB Probe Traces Suspected Benami Assets
The ACB arrested Bheem Reddy in July after registering a disproportionate assets case. During its investigation, officials recovered documents relating to several properties and investments.
The agency had searched 16 locations during the initial phase of the investigation. The properties under scrutiny included a luxury villa, residential flats, commercial properties and agricultural land in Telangana and neighbouring states. The ACB also reported cash, gold, silver and bank balances during the searches.
In a subsequent operation, the ACB searched 10 locations in Hyderabad and Zaheerabad linked to the eight suspected benamis.
At the residence of contractor Bomma Venkatesh in Puppalaguda, officials seized ₹1.35 crore in cash, foreign currency and around 14 litres of foreign liquor, besides documents connected with suspected benami assets.
The ACB has alleged that some properties initially purchased in Bheem Reddy’s name were later transferred through cancellation deeds to persons identified as suspected benamis.
The agency is continuing to verify the ownership and financial trail of the assets.
The Income Tax Department had earlier received information from the ACB regarding alleged benami properties in cases involving several officials.
Reports in August said the department had registered cases under the Benami Transactions (Prohibition) Act and begun investigations.
The Enforcement Directorate has also registered a money laundering case linked to the allegations against Bheem Reddy. Its investigation is focused on suspected properties and transactions allegedly connected to proceeds of corruption.
The investigations by the ACB, Income Tax Department and ED are continuing. Allegations against Bheem Reddy and the suspected benamis remain subject to investigation and legal proceedings. (Maxim News)
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