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CBI Questions KVP In Emaar Case

The CBI questions K V P Ramachandra Rao in connection with the Emaar-APIIC scam.
Hyderabad | 16th January 2012
The Central Bureau Of Investigation (CBI), on Monday, questioned former government advisor and Rajya Sabha member K V P Ramachandra Rao in connection with the Emaar-APIIC township scam.

In a press statement following the CBI inquisition, at the Dilkusha Guest House, Ramachandra Rao said that he has appeared before the agency as a witness and provided relevant information to the agency.

He also stated that he has assured the agency that he will extend his cooperation towards the investigations.

The CBI questioned KVP for about 3 hours in regard to the purchase of a plot in the township under his wife's name.

KVP, a close aide of former chief minister YSR, was a government advisor when the share of the state-owned APIIC was reduced from 26% to 6%. This caused a huge amount of losses to the public exchequer.

There are also allegations that Rao played a key role in the decision to reduce the APIIC's share. (INN)
filed in:  Emaar Properties, K V P Ramachandra Rao, CBI, APIIC
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