CBI Files Emaar Properties Chargesheet

The Central Bureau Of Investigation, on Wednesday, filed a chargesheet against 12 accused, including senior IAS officer B P Acharya, in the APIIC-Emaar scam.

The CBI has alleged that Acharya had reduced the APIIC's stake in the 258-acre Gachibowli township, from 26% to a mere 0.6%, causing a huge loss to the state's exchequer.

Acharya has been charged with entering into a criminal conspiracy with officials of the Emaar Group and unknown public servants to cheat the APIIC.

Another IAS officer, who is also TTD's Executive Officer, L V Subrahmanyam, has also been named in the chargesheet.

1,834 supporting documents were attached with the 157-page chargesheet. As many as 286 witnesses were also examined so far.

Those named in the chargesheet include Emaar Properties, Mohammad Ali Akbar, Emaar-MGF, EHTPL, Koneru Prasad, Srikanth Joshi, Boulder Hills, Visveswar Rao, Koneru Madhu and T Ranga Rao.

The other accused, Sunil Reddy and Vijaya Raghavan, who have been arrested in the case, have not been named. Sources say that the CBI might file an additional chargesheet against them.

While industrialist Koneru Prasad was arrested on 3 November last year, Acharya was arrested on 3 January.

The CBI had arrested N Sunil Reddy, a close aide of YSR Congress party president Y S Jaganmohan Reddy, on 24 January, while Vijaya Raghavan, the finance head of Emaar-MGF (South) was arrested on 28 January.

All the 4 accused were produced before the Special CBI court, on Wednesday, which remanded them to judicial custody till 15 February.

Meanwhile, the court posted the hearing on Acharya's bail petition to 3 February. (INN)