Madhya Pradesh Lokayukta raids 'crorepati' teacher in Betul

BHOPAL: Madhya Pradesh Lokayukta’s special police establishment (SPE) on Tuesday booked a government primary school teacher for allegedly possessing assets worth 'Rs 5 crore' disproportionate to his known source of income.
Pankaj Srivastava, 45, resident of Godadongri area in Betul, had joined on a salary of Rs 500 per month in October 1998.
Recently, SPE SP Manu Vyas had received a complaint alleging that Srivastava had accumulated massive properties over the last few years by lending money on interests.Major income was invested in agricultural land around Betul district.

Officers of the anti-corruption agency had raided multiple places belonging to Srivastava around 6 am and detected properties worth Rs 5 crore (market value could be much more) including double-storied buildings, several plots, deposits in different banks, investment in policies, gold and silver ornaments, cash and household articles.
This includes 24 properties which includes, a duplex in Bhopal, plot in Samardha, one-acre land in Pipliya, six acres’ land in Chhindwara, eight plots in Betul, six shops in Badgona and 25 acres’ agricultural land in around 10 different villages.
After search, inventory and further inquiry, the income, expenditure and assets of Srivastava were calculated and he was found in possession of assets disproportionate to his known sources of income. Officials informed that his known income so far is around Rs 35 lakhs whereas the value of properties run into crores, which he could not account for satisfactorily.
Officials have also confiscated a diary wherein names of people who had borrowed money from him were mentioned. “We have got a list of 50 people there could be more. The interest at which he was lending money was very high,” said an officer who was part of the investigation team.
Officials also found Rs 50 lakhs investment in an ITI college by him besides a plot in Nagpur.
Srivastava has been booked under various sections of prevention of corruption act. Team was led by SPE officials including Dr Salil Sharma, Mukesh Tiwari, V K Singh and seven others.