The charges against the accused also include that the two men, with the help of a Delhi based bank manager, allegedly amassed wealth disproportionate to their known sources of income during 2007 to 2012.
The Central Bureau of Investigation (CBI) have registered a case under Prevention of Corruption (PC) Act against a retired officer of the India Air Force and a former Member of Parliament who represented the Congress party in Andhra Pradesh. According to the probe agency the retired air force officials allegedly helped the former Parliamentarian to acquire agricultural land in south-west Delhi's Najafgarh area which has recently seen a surge in land investments real estate development.
The charges against the accused also include that the two men, with the help of a Delhi based bank manager, allegedly amassed wealth disproportionate to their known sources of income during 2007 to 2012. The total amount of money involved in the case is to the tune of approximately Rs12 crore.
The Indian Air Force officer has been identified as Polu Sridhar, who retired as a Squadron leader. CBI sources said that the politician allegedly involved in the case is Balashowry Vallabhaneni who was a member of the 14th Lok Sabha of India and represented the Tenali constituency of Andhra Pradesh.
The agency has also booked Manish Saxena who was the then branch manager of Axis Bank. The three have been booked under section 13(2) read with 13(1)(e) of the Prevention of Corruption Act, 1988 and section 109 of the Indian Penal Code. The agency also conducted searches at three locations that include Guntur, Hyderabad and Noida.
According to CBI sources, transactions worth Rs11.96 crore were made through Axis Bank's Najafgarh branch between November 2007 to December 2012. "The transfers were allegedly made between Mr Polu Sridhar and Mr Balashowry Vallabhaneni in between the said period. Three suspected transactions that have come to fore are one running to the tune of Rs8.49 crores, Rs1.27 crore and more than two crores. The transactions include cash deposits as well,"said a CBI source.
The source added that the transactions were made possible with the help of Saxena who has been accused of allegedly conniving with the senior air force official.
According to officials, the accused will likely be questioned in the coming week. "We have already conducted searches at the premises belonging to those names in the case. Further action will depend on the direction which the probe against the accused takes,"said a CBI official.
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