AP land deal: CBI serves notices to politicians, filmstars

These persons had purchased villas/plots in 'Emaar Hills' township project in Gachibowli

PTI | September 9, 2011



CBI, probing the alleged irregularities in the 2005 APIIC-Emaar Properties land deal, has served notices to over 80 persons, including some politicians, their kin and Telugu filmstars.

These persons, whose identity were not revealed by officials, had purchased villas/plots in 'Emaar Hills' township project in Gachibowli here.

"Notices have been issued and examination will begin from September 14. Those issued notices include siblings of politicians and some filmstars in whose names the villas were purchased in the township," a CBI official said.

The villa/plot owners will be questioned by the Central agency about their transaction, among other details, with Emaar Hill Township Pvt Ltd (EHTPL), a joint venture of APIIC and Emaar Group.

CBI on August 17 registered a case against B P Acharya, senior IAS officer and former chairman and managing director of APIIC (AP Industrial Infrastructure Corp), and realty developer Emaar Group on instructions of the state high court under IPC Sections pertaining to cheating, criminal conspiracy and also Prevention of Corruption Act.

The agency charged Acharya, currently principal secretary (home), of entering into a criminal conspiracy with officials of Emaar Group and unknown public servants to cheat APIIC for wrongful gain to Emaar.

The CBI has accused Acharya of "abusing" his official position by "corrupt and illegal" means, and causing huge wrongful loss to APIIC in the sale of plots, villas and apartments, and wrongful gain to Emaar Group and others.

The FIR said in pursuance of the conspiracy, Emaar sold plots at below market price without the knowledge and consent of the APIIC Board.

The 258-acre township was to be developed by EHTPL, in which Dubai-based Emaar Group and APIIC hold 74 per cent and 26 per cent equity, respectively.

However, the subsequent appointment of Emaar MGF, an Indian subsidiary of the Dubai firm, as developer of the project "without the consent of the board of APIIC" led to a reduction in shareholding of the state agency in the venture, it is alleged.

Meanwhile, CBI, simultaneously probing into the investments made by various companies and individuals into the businesses of YSR Congress chief Y S Jagan Mohan Reddy, conducted searches at the residence of Lagadapati Sridhar in Jubilee Hills area here and his office, the official said.

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