YS Reddy Case: Wads of Cash, Gold Biscuits Seized — ₹32 Crore Worth Assets Confiscated
A high-profile corruption case has come to light as the Enforcement Directorate (ED) conducted raids across 13 locations linked to Yadagiri Shivakumar Reddy, a Deputy Director in the Town Planning Department of Vasai-Virar Municipal Corporation (VVMC), Mumbai.
Hyderabad/Mumbai: A high-profile corruption case has come to light as the Enforcement Directorate (ED) conducted raids across 13 locations linked to Yadagiri Shivakumar Reddy, a Deputy Director in the Town Planning Department of Vasai-Virar Municipal Corporation (VVMC), Mumbai. The ED seized assets worth ₹32.29 crore during the operation.
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Shocking Seizures: Cash, Gold, and Documents
According to sources, the ED conducted searches in 12 locations in Mumbai and one in Hyderabad, uncovering:
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- ₹9.04 crore in cash
- Gold and diamond jewellery worth ₹23.25 crore
- Documents related to other benami properties
Officials were stunned to find large, thick gold biscuits, reportedly weighing several kilograms each.
Illegal Constructions and Court Orders
The corruption trail leads back to 2009, when a construction scam began unfolding in the VVMC jurisdiction. Officials allegedly colluded with builders and real estate agents, granting illegal permissions for 41 unauthorized constructions.
In July 2024, the Bombay High Court ordered demolition of these buildings. Though owners appealed to the Supreme Court, relief was denied. On February 20, 2025, the buildings were razed by VVMC, sparking a legal backlash from affected owners.
Criminal Complaints Lead to Major Breakthrough
Post-demolition, building owners lodged criminal complaints against the brokers and builders who sold them the properties. Investigating police discovered a deep-rooted real estate scam, prompting the ED to launch a financial probe.
Key Accused in the Scam
The ED identified Yadagiri Shivakumar Reddy as the kingpin behind the scam, alongside real estate operators Seetharam Gupta and Arun Gupta. Coordinated raids were carried out on May 14 and 15 across Mumbai and Hyderabad, leading to the recovery of illicit assets and documents.
ED’s Ongoing Investigation
The Enforcement Directorate is continuing its investigation into this multi-crore real estate scam, focusing on uncovering other potential assets, money laundering channels, and accomplices involved in the network.
