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Emaar Scam: CBI Questions Ambati

Former APIIC chief Ambati Rambabu claims that the alleged irregularities in the APIIC-Emaar scam took place during the TDP's regime, in 2002.
Hyderabad | 8th January 2012
YSR Congress official spokesman and former Andhra Pradesh Industrial Infrastructure Corporation chairman Ambati Rambabu, on Sunday, stated that the alleged irregularities in the APIIC - Emaar Properties scam did not take place during his stint as the chairman from 2005-2007.

Talking to media persons after being questioned for 3 hours by the Central Bureau Of Investigation in connection with the Emaar Properties case, at Dilkusha Guest House, Ambati Rambabu said that the 2 decisions during his regime - the decrease in the APIIC's share, and the inclusion of Emaar-MGF - were not brought to the notice of the Board during his tenure.

He said that he has produced all relevant documents before the probing agency.

Ambati said that the agreements in connection with all those deals had taken place during the stint of former chief minister N Chandrababu Naidu during 2002.

He said that he had appealed to the CBI to investigate the agreements that took place in 2002 as well.

He added that the APIIC had suffered heavy losses due to provisions in the GOs issued during the TDP's regime.

Ambati said that the CBI did not ask him anything related to the disproportionate assets case of Y S Jagan Mohan Reddy.

Earlier, the CBI had served notices to Ambati Rambabu in the Emaar scam, asking him to appear before it by 8 January.

The investigation agency has already arrested businessman Koneru Prasad in the Emaar-APIIC case. (INN)
filed in:  Chandrababu Naidu, Ambati Rambabu, Emaar Properties, CBI, Scams, TDP
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