The CBI Special Court at Nampally, on Monday, remanded Stylish Homes Managing Director Koneru Prasad to judicial custody till 18 November.
Earlier, CBI sleuths produced Koneru Prasad in the court at the end of his custody period on Monday. The CBI's counsel appealed to the court to extend the custody further, stating that the CBI needs to interrogate him for some more days to extract information in connection with the Andhra Pradesh Industrial Infrastructure Corporation - Emaar land scam.
However, the court rejected the CBI's plea, and remanded him to judicial custody till 18 Nov.
Following the court's directions, the officials shifted him to Chanchalguda Jail.
Koneru Prasad was arrested last week, and the court remanded him to CBI custody for 7 days. The CBI told the court that Prasad was not cooperating during the interrogation, and sought another 8 days of his custody for further interrogation.
"The investigating agency wants to know where Prasad has hidden all the black money that he has collected from the buyers of villas and plots in the Emaar Township," the CBI counsel told the court.
The CBI also informed the court that Prasad confessed to have earned Rs. 30 crore illegally through the land deals.
Meanwhile, Koneru Prasad moved a petition, seeking bail for 5 days, to perform the Ayyappa ritual in Kerala. Admitting the petition, the court asked the CBI to file its counter.
The hearing on the bail petition has been posted for Tuesday. (INN)