Bengaluru: Enforcement Directorate sleuths filed a prosecution complaint in transferable development rights (TDR) scam, allegedly involving Valmark Realty Holdings Private Ltd (VRHPL) director and 19 other accused, including then Bruhat Bengaluru Mahanagara Palike (BBMP) employees.The case was probed by ED based on the FIR registered by then Anti-Corruption Bureau (ACB) in 2019, stating that VRHPL director Ratan Lath obtained development right certificates (DRCs) and sold TDRs to real estate companies and individuals, making an illegal profit of nearly Rs 27.7 crore.In a press release, ED said TDR brokers K Suresh, K Gautham and associates conspired with previous land owners and some BBMP officials to obtain TDR from the Palike by concealing that the properties were already sold and by falsely valuing them.Earlier, ED conducted searches on nine premises, including the office of VRHPL, its director and certain builders, brokers and fake TDR applicants, which revealed the role of TDR brokers and previous owners, the release said. Investigation disclosed a concerted conspiracy whereby brokers BS Surendranath, K Gautham and K Suresh, acting with VRHPL and BBMP officials, procured mutation of record of rights, tenancy and crops (RTCs) in favour of a land owner’s heirs despite the land at Kowdenahalli (east Bengaluru) long being converted into a revenue layout with numerous third-party purchasers in possession. Agreements and general powers of attorney were allegedly used to initiate administrative processes, following which spot mahazars and building valuations were prepared, and the land was treated as agricultural for the purpose of issuing development rights, the ED release said.Quoting another case in the scam, the agency said K Suresh and K Gautham, along with associates, approached individuals, identified as Muniraju and Srinivas, and entered into agreements to obtain TDR benefits even though they were no longer legitimate owners of the land. Powers of attorney were subsequently registered at the sub-registrar’s office, Indiranagar, to facilitate procurement of TDR from BBMP. It was revealed that the land was already sold and remained vacant without any eligible structure for TDR benefits, and that a building located in a neighbouring survey number was falsely projected as being situated within the land concerned in order to support recommendation and issuance of development rights certificates.
