Thaindian News

Hyderabad, March 16 (IANS) After remaining behind the bars for one-and-half months, Indian Administrative Service (IAS) officer B.P. Acharya came out of jail Friday following the grant of bail by a special court here hearing the Emaar-APIIC township corruption case.

Central Bureau of Investigation (CBI) Special Judge B. Naga Murthy Sarma rejected the probe agency’s plea for putting off the implementation of the bail order for five days.

He ordered the suspended IAS officer’s release from Chanchalguda central jail as the central government ws yet to get permission from the central government for prosecuting him.

The judge while granting bail asked the bureaucrat to deposit two sureties of Rs.25,000 each.

Even before Acharya’s family members could begin formalities for the bail, the CBI moved the court saying that the officer should not be released on bail till March 20.

The CBI opposed the bail on the ground that Acharya was the prime accused in the case and had vital information relating to the case. The agency told the court that it was expecting the nod soon from the central government for prosecuting him.

The CBI is now likely to move the Andhra Pradesh High Court against the special court’s order.

Acharya was principal secretary (home) when he was arrested by the CBI Jan 30. However, his name did not figure in the charge sheet filed Feb 1.

The IAS officer of 1983 batch was vice chairman and managing director of the Andhra Pradesh Industrial Infrastructure Corp (APIIC) when its equity was reduced in a joint venture with Dubai-based real estate major Emaar, causing huge losses to the state exchequer, the CBI said.

Industrialist Koneru Prasad, businessman Sunil Reddy and Emaar MGF finance head south Vijayraghav are also currently in jail in the case.

The CBI booked Acharya, Emaar Properties, its Indian associates and their executives in August last year after the high court ordered a probe on petitions by then state minister Shankar Rao and some leaders of the Telugu Desam Party.