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In Telangana, former director of HMDA Shiv Balakrishna’s case of illegal assets is creating sensation. As we dig into this case, key things come to light. Recently, another twist has come to light in the Shivabalakrishna case. ACB officials have found that fake IT returns have been filed for paying income taxes. Sivabalakrishna has been at the helm of HMDA for nine years. In this order, fake companies were set up showing that the family members had businesses. Soundarya Boutique filed IT returns in the name of Shari Works. They created businesses in their names to show financial income and became the cause of tax evasion. Sivabalakrishna filed IT returns in the name of family members through these shale companies.
He also showed that his daughter Padmavati will get income. Generated as IT return filed with income from home tuitions. Income was created in the name of these shale companies to cover illegal earnings. At present, he is caught in the trap of ACB officials and is in custody. During Sivabalakrishna’s tenure as Director of Planning in HMDA, he gave green signal to the files of builders, realtors, infra owners and owners of land ventures. Officials have already found that there were irregularities in the land auction held in HMDA and that Satyanarayana and Bharat were benami of Sivabalakrishna. It is suspected that many lands and places are named after them. They are being investigated as part of this. Many people are interested in how many more developments will come to light in this case.
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