Indore, Jul 22 (PTI) Lokayukta Police in Madhya Pradesh on Wednesday said they had unearthed movable and immovable assets worth over Rs 17 crore allegedly belonging to a senior official of a state-owned power distribution company and his close relatives.

Police raided nine locations across the state on Tuesday following a complaint that Shivram Semil, Superintendent Engineer at the Madhya Pradesh West Zone Power Distribution Company's headquarters in Indore, had amassed wealth disproportionate to his known sources of income.

Superintendent of Police Rajesh Sahay said that based on the documents recovered during the raids and information gathered by the officials, Semil and his family had spent approximately Rs 17.12 crore on movable and immovable assets.

A total of Rs 62.89 lakh was found deposited in the bank accounts of Semil, his family members, and business entities associated with him, and the banks have been asked to freeze transactions from these accounts, the SP said.

The family was found to have a house worth about Rs 50 lakh in Morena, and the value of the goods recovered from there was estimated at Rs 7.51 lakh, the police official said.

Police also learnt about the purchase of a plot of land and 1.25 bighas of agricultural land by Semil's family in Morena, and documents for these properties are being collected, said Sahay.

The Income Tax Department has been requested to provide details of Semil and his family's recent income tax returns. Additionally, the Securities and Exchange Board of India (SEBI) has been requested to provide information about their investments in the stock market and mutual funds, the official said.

Further probe was on, he said. PTI HWP MAS KRK

Disproportionate-assets investigation examines property, bank accounts, tax returns and investments linked to a power company official and relatives. Disproportionate-assets investigation concerns allegations that a power distribution company official and close relatives acquired movable and immovable assets beyond known sources of income. Lokayukta Police conducted searches, identified assets and bank deposits linked to the official, family members and associated business entities, and sought freezing of account transactions. The inquiry includes verification of property acquisitions, income-tax returns, and stock-market and mutual-fund investments, with further investigation pending.