Supplementary charges filed in Andhra township caseApril 23rd, 2012 - 7:50 pm ICT by IANS
Hyderabad, April 23 (IANS) The Central Bureau of Investigation (CBI) Monday filed an additional set of formal charges in the Emaar-APIIC township case in a court here.
Businessman Sunil Reddy, said to be an aide of YSR Congress party leader Y.S. Jaganmohan Reddy, and Emaar MGF finance head (south) G.V. Vijaya Raghav have been named in the 90-page charge sheet filed in the CBI special court.
The CBI arrested Sunil Reddy Jan 24 and Vijaya Raghava four days later. They were not named in the charge sheet filed against 12 accused Feb 1.
Counsel for Sunil Reddy and Vijaya Raghava filed pleas seeking copies of the supplementary charge sheet.
The CBI earlier told the court that Rs.63 crore received from the sale of villas in the township were invested in Sunil Reddy’s firm, South End Projects.
The federal agency filed the first charge sheet against 12 accused, including two Indian Administrative Service (IAS) officers. Of them, suspended IAS officer B.P. Acharya and businessman Koneru Prasad are in judicial custody.
The CBI, which took up investigations last year on the direction of the Andhra Pradesh High Court, alleged that the accused in collusion with some public servants conspired to hijack the joint venture project with the Andhra Pradesh Industrial Infrastructure Corp (APIIC).
The accused sold the villas in the township at prices much higher than the one shown on paper, causing huge losses to the APIIC.
Emaar Hills Township Pvt. Ltd. (EHTPL), the company formed to execute the project, transferred the development rights of the project to its sister company Emaar-MGF, without the knowledge of the APIIC.
The CBI argued that the share of APIIC was brought down from 26 percent to 6.5 percent, causing losses to the state exchequer.
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- CBI to file additional chargesheet in Emaar case (Lead, Superseding earlier story) - Apr 09, 2012
- High court cancels IAS officer's bail in Emaar case - Mar 27, 2012
- Andhra home secretary arrested in Emaar case (Second Lead) - Jan 30, 2012
- Andhra home secretary arrested in Emaar case (Lead) - Jan 30, 2012
- CBI charge sheets two IAS officers, 10 others in Emaar scam (Lead) - Feb 02, 2012
- CBI charge sheets two IAS officers, 10 others in Emaar scam - Feb 01, 2012
- CBI arrests Emaar Township executive - Jan 28, 2012
- Bail to IAS officer in Emaar case - Mar 16, 2012
- Bail to IAS officer in Emaar case (Lead) - Mar 16, 2012
- Emaar case: Jagan aide appears before CBI - Jan 08, 2012
- CBI grills two accused in Emaar case - Feb 04, 2012
- Court rejects Jagan aide's plea for laptop in jail (Lead) - Feb 15, 2012
Tags: acharya, andhra pradesh high court, apiic, cbi, central bureau of investigation, congress party, emaar mgf, formal charges, indian administrative service, industrial infrastructure, joint venture project, judicial custody, koneru, public servants, raghav, state exchequer, supplementary charge, supplementary charges, vijaya, ysr