The CBI Special Court, on Friday, granted bail to suspended IAS officer B P Acharya, who was arrested by the CBI in connection with the Emaar Township scam.
While sanctioning the bail, Special Court Justice B Nagamaruthi Sarma observed that he was taking cognizance of the chargesheet alone.
With the CBI failing to secure a sanction to prosecute Acharya from the central government, he could not extend his judicial remand further, the judge observed.
The judge granted bail to Acharya on the condition that he furnish 2 personal bonds of Rs. 25,000 each.
The court granted bail to Acharya after he, along with Trimex Group Chairman Koneru Prasad, was produced before the court through video linkage with the Chanchalguda Central Jail. However, the court extended the remand of Koneru Prasad till 30 March.
Acharya was arrested on 30 January, a day prior to the CBI filing the chargesheet in the case.
Acharya was Vice-Chairman and Managing Director of AP Industrial Infrastructure Corporation from 2005 to 2010, when the Corporation assigned 535 acres of land at Nanakramguda to the Dubai-based Emaar Properties for the development of a township that included villas and apartments. (INN)
filed in:B P Acharya, APIIC, Emaar Properties, Scams, Corruption