Asia & Australia

November 16, 2018

Justice Vaidya Vara Prasad booked on charges of amassing disproportionate assets


On November 14, following a direction from the Hyderabad High Court, the Anti-Corruption Bureau (ACB) booked Justice Vaidya Vara Prasad, XIV Additional District Judge of the LB Nagar court in Ranga Reddy district, on charges of amassing disproportionate assets.

The ACB had performed search operations at the houses of the judge and his associates. Thereafter, search operations were also performed at a total of 11 places in Telangana’s Hyderabad and Sircilla as well as Maharashtra. Reportedly, during these search operations, the ACB discovered assets including a flat costing Rs. 53 lakh at Kondapur, two flats at Vikas Nagar in Dilsukhnagar worth Rs. 12.63 lakh and Rs. 5.68 lakh, and bank balance and fixed deposits worth Rs. 38.16 lakh in various banks. In addition, a Honda City car costing Rs. 14 lakh, Hyundai i10 car costing Rs. 5.13 lakh, household articles costing Rs. 2.61 lakh from Dilsukhnagar flat, household articles costing Rs. 9.8 lakh from Kondapur flat, and a TVS Scooty costing Rs. 30,000. A total of over Rs. 3 crore of disproportionate assets was discovered.

An official release issued by ACB’s Director General Dr. J. Purnachandra Rao, IPS, stated, “Further, it was found that the accused judge along with his family had made several tours abroad, incurring huge expenditure.”

According to DG Dr. Rao, “The documentary value of unearthed disproportionate assets is approximately Rs. 1.5 crore and market value is Rs. 3 crore.”

Justice Prasad was booked under Section 13(1)(b) r/w 13(2) of the Prevention of Corruption Act, 1988.

Related Post

latest News

  • JSW Tells NCLT That It Serious About Bhushan Power, While NCLT Says Fraud Reports Won’t Affect Insolvency Process

    JSW Steel’s lawyers told the National Company Law Tribunal (NCLT) that it is not backing out from the resolution process of Bhushan Power & Steel Lt...

    Read More
  • Capital Market Regulator Securities And Exchange Board Of India Fines GKS Properties Rs 5 Lakh For Fraudulent Trades

    Capital markets regulator Securities & Exchange Board of India (SEBI) has imposed a fine of Rs 5 lakh on GKS Properties for executing non-genuine trad...

    Read More
  • MCA Gets NCLT Nod To Prosecute Deloitte Haskins, BSR Associates Which Had Audited IL&FS Financial Services

    The Ministry of Corporate Affairs (MCA) has received a nod from the National Company Law Tribunal (NCLT) to prosecute Deloitte Haskins and BSR Associa...

    Read More