ACB unearths Andhra Pradesh official wife's four shell companies

  • | Sunday | 25th June, 2017

We are looking at one of the biggest sharks in government circles," a senior official said. "Panddurunga Rao, in order to legitimise the ill-gotten money generated from these shell companies, had even paid income tax on it," a senior official said. Panddurunga Rao is the engineer-in-chief, public health and municipal administration Senior ACB officials told STOI that these documents were recovered from his residence. VIJAYAWADA: More skeletons are tumbling out of tainted official Pamu Panddurunga Rao 's cupboards. A day after the Anti-corruption Bureau (ACB) netted the `big shark' for amassing disproportionate assets close to Rs 500 crore, the anti-corruption sleuths on Saturday stumbled upon documents pertaining to four shell companies belonging to the Roa's wife.

VIJAYAWADA: More skeletons are tumbling out of tainted official Pamu Panddurunga Rao 's cupboards. A day after the Anti-corruption Bureau (ACB) netted the `big shark' for amassing disproportionate assets close to Rs 500 crore, the anti-corruption sleuths on Saturday stumbled upon documents pertaining to four shell companies belonging to the Roa's wife. Panddurunga Rao is the engineer-in-chief, public health and municipal administration Senior ACB officials told STOI that these documents were recovered from his residence. The documents had the stamp of Rao's wife Rajyalakshmi. After a close examination, the sleuths found that the companies were bogus."Panddurunga Rao, in order to legitimise the ill-gotten money generated from these shell companies, had even paid income tax on it," a senior official said. ACB director general RP Thakur said the ill-gotten wealth was worth Rs 360 crore.Sudharma Infotech Ltd in Visakhapatnam, Rajyalakshmi High Tech, HM Technocrat India Pvt Ltd and Lakshmi Hanora Deve lopers are the four shell companies registered in Rajyalakshmi's name. The ACB is now trying to obtain their registration certificates to ascertain how much income tax Rao was paying.Rao (58) was produced in the special ACB court here on Saturday and remanded in judicial custody for 14 days. The court also told the government to suspend him.During raids at 14 locations across AP and Telangana, ACB officials unearthed documents of 43 plots, five houses, 21 farmland, an under-construction hospital, dry fruits worth Rs 1 lakh and gold, silver jewellery and bank lockers papers."If we open the lockers, his illegal wealth will certainly go up. We are looking at one of the biggest sharks in government circles," a senior official said.

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