CBI Probe Into APIIC-Emaar Deals

Demanding a Central Bureau of Investigation (CBI) probe into alleged dubious land agreements between the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and Emaar properties, senior Congress MLA DL Ravindra Reddy urged the government to initiate stern action against those who were involved in the murky dealings.

Talking to media persons at CLP office on Wednesday, Ravindra said only the CBI could give a comprehensive report on the dubious deals. He said that irregularities to the tune of Rs. 11,000 crore are believed to have taken place in the land dealings.

During the deals between APIIC and Emaar Properties from 2004 till date, the APIIC has made a profit of just Rs. 30 lakhs and has suffered losses worth thousands of crores, the MLA stated.

Reddy questioned why the government had not yet ordered a CBI probe into the issue, even though the State-owned APIIC had suffered a huge loss to the tune of Rs. 11,000 crore.

Reddy also urged the government to suspend the Principal Secretary, Industries and Commerce, B P Acharya, and order an inquiry into his appointment to the APIIC as Chairman and Managing Director.

The MLA wanted to know why the government was retaining Acharya in the post despite serious allegations.

Reddy urged the government to initiate action against the guilty based on Solicitor General Gopala Subrahmanyam's report, and book criminal cases against the guilty.

The Congress leader also suspected the role of the Telugu Desam Party (TDP) in the scam, as the party was not raising its voice against it.

The MLA pointed out that the TDP had raised a hue and cry over the Bofors scandal during former Prime Minister Rajiv Gandhi's tenure, but it was keeping mum on APIIC-Emaar issue. This attitude was creating doubts in the minds of people over the role of TDP in the scam, he stated.

Courtesy: INN