According to ACB officials, this case is the tip of the iceberg with numerous such cases of fraudulent TDR issued for the same stretch of road widening. The value of this scam is pegged to be thousands of crores.
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The Anti-Corruption Bureau in Karnataka raided properties belonging to four individuals connected to a real estate company on Saturday in connection with the Transferable Development Rights (TDR) scam of the Bruhat Bengaluru Mahanagara Palike. The scam involves former BBMP Mahadevpura Zone Executive Engineer Krishnalal and two other middlemen, who allegedly inflated the value of a property which was to be acquired by the BBMP for the expansion of the Outer Ring Road at TC Palya. The ACB booked Krishnalal and six others in connection with the same in April. Saturday’s raids were the third set of raids since the FIR was registered. Properties that were raided include the Residency Road office and Old Airport Road residence of Ratan Babulal Lath, the Director of Valmark Realty Holdings Private Ltd. Others raided on Saturday were the Horamavu residences of Amit J Bolar, K Gou tam and the Kalkere residence of Munirajappa. “The raids were carried as part of an ongoing investigation into the alleged TDR scam. It has come to light that many private persons have benefited,” an ACB official told The Times of India. “We suspect that the four men, Lath in particular, are close associates of BBMP assistant engineer Krishnalal, prime accused in the scam who has been named in the FIR,” he added. The road expansion eventually did not take place, as the owners refused to budge with their land of around 5.2 sq km without any compensation. According to ACB officials, this case is the tip of the iceberg with numerous such cases of fraudulent TDR issued for the same stretch of road widening. The value of this scam is pegged to be thousands of crores. Krishnalal is currently posted in the Bangalore Development Authority.
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