Hyderabad, July 25, 2025:
The Enforcement Directorate (ED) has intensified its crackdown in Hyderabad as part of an ongoing investigation into the alleged illegal assets case involving *former HMDA Director Shiv Balakrishna. The latest developments include *raids on three real estate companies allegedly linked to benami investments made by Balakrishna and his close associates.
According to sources, ED officials conducted searches at the offices of *Srikrishna Constructions, **Quarries Spices, and **Udaya SSV Projects, where Shiv Balakrishna is suspected to have invested large sums through *benami names.
Raids Conducted in Key Hyderabad Locations
The agency carried out operations at Lakdikapul, Kondapur, and Ramanthapur, targeting the premises of the companies and individuals believed to be involved in this financial network.
Preliminary findings suggest that Shiv Balakrishna used his official position to grant unauthorized approvals and diverted funds into real estate ventures through associates, including his brother *Naveen Kumar. ED officials have identified *benami investments worth several crores routed into these firms.
₹250 Crore Worth Illegal Assets Uncovered
This action is a continuation of a larger probe where Shiv Balakrishna was already arrested earlier in connection with *assets disproportionate to known income sources. Investigators claim to have identified *illegal properties and investments worth approximately ₹250 crore.
On *July 2, the ED had raided properties linked to his brother *Naveen Kumar in *Rajendranagar and Chaitanyanagar, further strengthening their case. Documents and digital records recovered during those raids pointed toward a complex web of *shell investments and front companies.
Key Highlights:
- ED raids continue in Hyderabad in Shiv Balakrishna illegal assets case
- Srikrishna Constructions, Quarries Spices & Udaya SSV Projects under scanner
- Raids conducted at Lakdikapul, Kondapur, and Ramanthapur locations
- Former HMDA director accused of using office for illegal approvals
- ₹250 crore worth disproportionate assets traced by ED
- Benami transactions and real estate investments linked to his brother Naveen Kumar
- Follow-up action from earlier July 2 raids at Rajendranagar and Chaitanyanagar