Thaindian News

Hyderabad, Jan 16 (IANS) Congress Rajya Sabha MP K.V.P. Ramachandra Rao Monday appeared before the Central Bureau of Investigation (CBI) in the Emaar-APIIC township scam.

KVP, as he is popularly called, appeared before CBI officials in response to a notice issued by the investigating agency. He was questioned for over three hours at Dilkusha guest house, the agency’s camp office.

Later, Rao told reporters that he was called as a witness in the case. “They sought some clarifications. I have shared with them whatever information I had,” he said.

The notice to the Congress MP was issued under section 160 of the Criminal Procedure Code, under which an investigating officer can summon a person who appears to be acquainted with the facts and circumstances of the case.

KVP, a close aide of late chief minister Y.S. Rajasekhara Reddy, was the government advisor when the share of state-owned Andhra Pradesh Industrial Infrastructure Corporation (APIIC) in the township project was reduced from 26 percent to six percent causing huge losses to public exchequer.

There are allegations that KVP played a key role in the decision to reduce APIIC’s share. Some of his family members allegedly bought villas in the township.

The CBI, which took up investigations in August last year on the direction of the high court, has booked Dubai-based real estate firm, Emaar Properties, and its Indian associates for cheating APIIC in the township project.

APIIC, which allotted 535 acres of prime land for the project at Gachibowli in Hyderabad, had an equity of 26 percent equity in Emaar Hills Township Project (EHTP), floated to execute the joint venture. However, Emaar and its Indian associates allegedly diluted the equity of APIIC without the latter’s knowledge.