The EAGLE Force and Telangana Police have forfeited two flats valued at approximately Rs 2 crore and frozen bank accounts containing Rs 43,655 in a financial investigation linked to a cocaine trafficking case in Hyderabad, Telangana Today reported on November 3.
The action followed the arrest last year of Sriram Ananth Kumar and Peruru Veerababu by Narsingi police. Officers seized 107.4 grams of cocaine and two mobile phones during the operation, according to the report. The subsequent investigation expanded from the alleged possession and trafficking of narcotics to the assets and financial transactions connected to the accused and their relatives.
Sandeep Shandilya, Director of the EAGLE Force, said investigators adopted a “follow the money” approach to trace the ownership and source of funds used to acquire the properties. Officials examined revenue passbooks, sale deeds, property tax receipts, building permissions, registration certificates and other financial records during the process.
The investigation identified two bank accounts belonging to Sriram Ananth Kumar and his family members. The accounts, containing Rs 43,655, were frozen. Police also identified two flats belonging to the suspect’s relatives, with an estimated market value of approximately Rs 2 crore, and initiated proceedings against the properties.
According to the report, the properties were forfeited on Monday after confirmation by the competent authority in Chennai. The action places immovable property records, ownership documentation and banking transactions within the enforcement process alongside the seizure of narcotics.
The case highlights the administrative side of combating organised drug networks: investigators must establish how suspected proceeds move through bank accounts, property purchases and family-linked ownership structures. In this instance, the police examined records associated with property ownership, taxation, construction permissions and registration before pursuing forfeiture proceedings.
The officials said the exercise was intended to prevent drug traffickers from converting proceeds of illegal activities into movable and immovable assets and presenting them as legitimate wealth. The report did not provide details of the specific legal provision used for the forfeiture, the names of the property locations or whether the affected relatives have challenged the action.
The forfeiture follows the competent authority’s confirmation in Chennai, while the frozen bank accounts remain part of the financial investigation described by the EAGLE Force and Telangana Police.
