Former CCI Officer, Wife Sentenced in Disproportionate Assets Case

A special CBI court in Hyderabad has sentenced a former Cotton Corporation of India (CCI) officer and his wife to imprisonment in a disproportionate assets case involving assets allegedly far exceeding their known sources of income.

Former CCI Cotton Purchase Officer Majeti Venkata Bhavani Prasad was sentenced to five years of rigorous imprisonment and fined Rs 1 lakh. His wife, Majeti Priyanka, was sentenced to four years of rigorous imprisonment and fined Rs 50,000.

According to the CBI, Bhavani Prasad accumulated assets disproportionate to his known income during his tenure as Cotton Purchase Officer at the CCI office in Warangal. The alleged period of disproportionate assets covered January 1, 2010, to February 21, 2015.

The investigation found that assets and financial resources held in the names of Bhavani Prasad and his family members were worth Rs 94.17 lakh during the check period. The CBI said the assets were 291.73 per cent higher than his known sources of income and that he failed to satisfactorily account for the excess assets.

The agency also alleged that Priyanka assisted her husband in acquiring and holding the disproportionate assets. Based on the findings, the CBI registered a case against the couple on November 3, 2016.

After completing its investigation, the agency filed a chargesheet against the accused on May 7, 2018. The case subsequently went through trial before the CBI court in Hyderabad.

After examining the evidence and hearing the matter, the court found both accused guilty and pronounced the sentences. The prosecution case centred on the alleged accumulation of assets beyond the income known to have been earned by Bhavani Prasad while he was posted with CCI in Warangal.

The verdict brings the long-running case, which originated from allegations dating back to his tenure at CCI, to a conclusion with the court imposing separate prison terms and fines on the former officer and his wife.