Thaindian News

Hyderabad, June 18 (IANS) Senior Indian Administrative Service (IAS) officer L.V. Subrahmanyam Monday appeared in a special court in connection with the Emaar-APIIC township case.

Subrahmanyam, who is currently the executive officer of Tirumala Tirupati Devasthanam (TTD), was granted bail by the CBI special court on a personal bond of Rs.25,000.

The court also handed him a copy of the first charge sheet, in which he is the 10th accused.

The court June 2 had issued summons to Subrahmanyam, who is facing the charges of criminal conspiracy and also corruption.

The IAS officer’s petition to quash the case against him was dismissed by the court last week.

Besides Subrahmanyam, G. Vijaya Raghava, Koneru Madhu and T. Ranga Rao also appeared in the court.

Suspended IAS officer B.P. Acharya, industrialist Koneru Prasad and businessman Sunil Reddy appeared before the court through a video linkage facility from Chanchalguda Central Jail, where they are lodged. Their judicial custody was extended till July 9.

The court directed all accused to appear in the court again July 9.

Meanwhile, the hearing on the bail plea of Emaar MGF finance head (south) Vijaya Raghava was adjourned to Tuesday.

Both Subrahmanyam and Acharya had served as vice chairman and managing director of the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) between 2002 and 2009.

Acharya, the number one accused, was arrested by the CBI in January this year and is lodged in jail. He was principal secretary (home) at the time of his arrest.

The state government has granted permission for Acharya’s prosecution but refused permission to prosecute Subrahmanyam under the Prevention of Corruption Act.

However, the court has taken the cognizance of Subrahmanyam’s role in the scam under the Indian Penal Code (IPC).

The CBI believes the decisions of the IAS officers caused losses to the public exchequer as the APIIC’s equity in the joint venture with Emaar Properties was reduced and it benefited the Dubai-based Emaar and its Indian associates.

The central agency alleged that the APIIC was deprived of its legitimate revenue share to the tune of Rs.43.5 crore from the township project at Gachibowli in Hyderabad even as Emaar Properties and Emaar MGF obtained pecuniary gain of about Rs.167 crore.