Police busts ` 587-cr Miyapur land scam
Kukatpally sub-registrar, MDs of 2 real estate firms arrested
The Cyberabad police on Sunday unearthed a multicrore scam and arrested the sub-registrar of Kukatpally, who illegally transferred 693 acres of government land to private companies. The police also arrested the directors of two companies — P.V.S. Sharma, 72, director of Goldstone Infratech and P.S. Parthasarathi, director of Trinity Infraven-tures Ltd.
Kukatpally Sub-registrar Rachakonda Srinivasa Rao had allegedly taken crores of rupees in bribes from the private companies to transfer land situated in Miyapur village in Serilingampally mandal, to the two companies at ludicrously cheap prices, causing a loss of `587 crore to the government.
Senior police officers say they are zeroing in on other officials of the companies, including a politically well-connected employee of Goldstone Infrastructure, who may also be involved.
The investigation has revealed that the Deputy Collector of Serilingampally had issued a memo in 2007 stating that the land in Miyapur village was government land/poramboku land. “There were many legal disputes going on in court regarding this land. In 2011, the deputy collector wrote to the sub-registrar again, stating that the land belonged to the government. P.S. Parthasarathi (of Trinity Intraventures) and others prepared a GPA from the various petitioners who had filed a case in the court and executed a deed in favour of Suvishal Power Gen Ltd. Sub-registrar Srinivas Rao helped the suspects to transfer the land,” said Madhapur DCP Vishwa Prasad.
The police said that the suspects only paid `68 lakh for the land which is actually worth `587 crore. Mr Rao has allegedly been using the bribe money for international tours. “This year, he visited Australia. We are verifying where he went to blow up the money,” said a senior official.
Rao is also suspected to be possessing huge properties and unaccounted for wealth. Officials said the Anti-Corruption Bureau is likely to step in and investigate his wealth and assets.
Kukatpally police started the investigation against Mr Rao after district registrar N. Saidi Reddy lodged a complaint.