The Telangana Anti-Corruption Bureau (ACB) has registered a disproportionate assets (DA) case against Mutyam Venkata Ramana, a Divisional Engineer at the Renewable Energy Development Corporation (REDCO). Following extensive searches conducted on Wednesday, the ACB estimates the market value of the unearthed assets to be between ₹100 crore and ₹150 crore.
Extensive Searches Reveal Hidden Wealth
The investigation was launched under the Prevention of Corruption Act after the ACB gathered evidence suggesting Ramana had accumulated substantial wealth far exceeding his known sources of income. Simultaneous searches were carried out at his residence, his Khairatabad office, and seven other premises linked to his relatives, associates, and alleged benamidars.
Among the assets discovered were multiple residential flats, commercial buildings, ongoing apartment projects, significant quantities of gold, bank deposits, and various vehicles. Official registration values for some immovable properties included four residential flats in Serilingampally and Kukatpally valued at ₹1.23 crore, a G+3 commercial building in Anjaneya Nagar, Kukatpally, valued at ₹1.82 crore, and a G+5 commercial building in Guttala Begumpet, Serilingampally, valued at ₹2.90 crore.
Real Estate and Alleged Benami Firms
Investigators allege that Ramana channeled considerable investments into real estate and construction through four construction firms reportedly registered in his wife's name. The ACB further stated that the officer had developed 10 residential apartments currently under construction in Anjaneya Nagar and Moosapet, with estimated investments totaling around ₹20 crore.
Cash, Gold, and Vehicles Seized
Beyond immovable properties, the ACB also reported significant seizures of liquid assets and valuables. These included bank deposits amounting to ₹52.02 lakh, 2.094 kg of gold ornaments estimated at approximately ₹4 crore, and three vehicles (a Kia, a Mahindra, and a Maruti Baleno) valued at about ₹45 lakh. Additionally, household articles and electronic gadgets worth ₹30 lakh, along with 20 bottles of liquor valued at about ₹2.5 lakh, were seized.
Official vs. Market Valuations
While the official value of the detected assets currently stands at ₹27.65 crore, the ACB noted that verification is ongoing to identify further properties and investments. Independent real estate experts, assessing current market rates, have placed the present market value of the discovered assets at the higher estimate of ₹100-150 crore.
Previous Corruption Allegations
ACB records indicate that Mutyam Venkata Ramana was previously caught in a trap operation on December 12, 2019. At that time, he was allegedly accepting a ₹25,000 bribe while serving as Divisional Engineer (Technical) in the Office of the Superintending Engineer (Operations), Cyber City Circle. During that incident, officials seized ₹26.52 lakh in cash and gold ornaments worth ₹22.60 lakh, leading to a charge sheet being filed.
Ramana is scheduled to be produced before the Special Judge for SPE and ACB Cases in Hyderabad for judicial remand as investigations into his financial transactions, benami holdings, and additional investments continue.