Kukatpally Sub-Registrar, 2 Company Directors Arrested In Miyapur Land ScamMay 29, 2017 11:23
Kukatpally Sub-Registrar, 2 Company Directors Arrested In Miyapur Land Scam:- The Cyberabad Police yesterday have arrested the kukatpally sub-registrar, along with the directors of two firms, who are allegedly involved in a massive land scam at Miyapur, Hyderabad.
The land scam involved around 693 acres of government land in the prime area. PVS Sharma (72), director of Goldstone Infratech and PS Parthasarathi, director of Trinity Infraventures Limited are the other accused. The trio was produced before a court today, and were remanded to 14 days judicial custody. Later, they were shifted to Cherlapally jail.
A petition will be filed for the custody of the three accused for further investigation, said the police. It is alleged that the Kukatpally sub-registrar, Rachakonda Srinivas Rao had received crores of rupees in bribes from the private firms, to transfer the land situated in Miyapur village in Serilingampally Mandal. The land was later transferred to the two companies at cheaper prices, causing a loss of Rs 587 crore to the government. The price of the land in the open market is estimated to be around Rs1,000 crore.
The Cyberabad Police are even zeroing in on other officials of the companies, including a politically well-connected employee of Goldstone Infrastructure, for their role in the scam.
According to the investigation, a memo had been issued by the Deputy Collector in 2007, stating that the land in Miyapur village was government land/poramboku land.
Madhapur DCP Vishwa Prasad said, “There were many legal disputes going on in court regarding this land. The deputy collector in 2011, wrote to the sub-registrar again stating that, the land belonged to the Government. PS Parthasarathi of Trinity Intraventures and others prepared a General Power of Attorney (GPA) from the various petitioners who had filed a case in the court and executed a deed in favor of Suvishal Power Gen Limited. The Sub-Registrar Srinivas Rao helped the accused to transfer the land.”
The suspects only paid Rs 68 lakh for the land which is actually worth Rs 587 crore, the police said. Mr Rao has allegedly been using the bribe money for international tours, said a senior official. This year, he visited Australia. “We are verifying where he went to blow up the money.”
Huge properties and unaccounted for wealth are suspected to be Rao’s possession. Officials said the Anti-Corruption Bureau is likely to step in and investigate his wealth and assets. An investigation has already began against Srinivas Rao on a complaint filed by district registrar N. Saidi Reddy.