Thaindian News

Hyderabad, Jan 30 (IANS) The Central Bureau of Investigation (CBI) Monday arrested Andhra Pradesh Home Secretary B.P. Acharya for alleged corruption in the Emaar-APIIC township case.

The top bureaucrat was later presented in a court here, which sent him to CBI custody for two days.

Acharya was arrested by the CBI officials in the afternoon after they questioned him since morning at Dilkusha guest house, the camp office of the investigating agency.

After the court sent him to CBI custody, he was brought back to the guest house for more questioning.

The senior Indian Administrative Service (IAS) officer of 1983 batch was vice chairman and managing director of the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) when its equity was reduced in a joint venture with Dubai-based real estate major Emaar, causing huge losses to the state exchequer. Acharya is presently the principal secretary (home).

Acharya, the first accused in the case, has been arrested on charges of cheating, criminal conspiracy, criminal breach of trust under various sections of Indian Penal Code and also under Prevention of Corruption Act, a CBI statement said.

The court dealing with CBI cases directed the agency to produce him in the court again on Feb 1. The official has also moved a bail petition, which is likely to come up for hearing on Feb 1.

He is the fourth accused to be arrested in Emaar case and the second IAS official held on charges of corruption.

IAS official Y. Srilakshmi was last month arrested in an illegal mining case involving former Karnataka minister G. Janardhana Reddy. She is currently lodged in Chanchalguda Central Jail.

Acharya, who was MD of APIIC between 2005 and 2009, allegedly colluded with Emaar and its Indian associates to bring down APIIC’s equity in the Emaar Hills Township Private Ltd (EHTPL) from 26 percent to six percent.

EHTPL, the joint venture company of Emaar and APIIC, was formed to build a township at Gachibowli in Hyderabad. APPIC had allotted 535 acres prime land for the upscale township.

Acharya and others allegedly diluted APIIC’s equity without approval from APIIC board.

The CBI Saturday arrested G.G.V. Vijay Raghav, Chief Financial Officer, EHTPL. Earlier, Sunil Reddy, a businessman and an aide of YSR Congress party chief Y.S. Jaganmohan Reddy, was arrested.

Koneru Prasad, an industrialist, was arrested by the CBI in November last year. His Stylish Home, which acted as marketing agency of EHTPL, allegedly siphoned off huge money by selling villas to politicians, businessmen and film personalities at much higher rate than shown on paper.

Meanwhile, the CBI special court dismissed CBI petitions for the custody of Sunil Reddy and Vijay Raghav.

The court extended judicial custody of Sunil Reddy till Feb 1. The CBI had taken up investigations into the case in August last year on the directions of the Andhra Pradesh High Court.

The first information report (FIR) named then Acharya, Emaar Properties, EHTP, Emaar MGF and Stylish Homes and unnamed public servants as accused in the case.

The court orders for CBI probe had come on the petitions by a ruling Congress party legislator and some leaders of opposition Telugu Desam Party (TDP).