Hyderabad, October 09: Infrastructure and investment principal secretary Ajay Mishra has replaced industries and commerce principal secretary BP Acharya as a director in the Board of AP Industrial Infrastructure Corporation (APIIC).
The State government issued orders reconstituting the APIIC Board of Directors.
All the directors except Acharya have been retained on the Board.
S Siva Rama Subrahmanyam will continue to be the chairman of the board.
The action comes two days after the Cabinet meeting where chief minister K Rosaiah reportedly assured the APII C officials that the government would provide all support for recovering the revenue due to it from the Emaar Properties and also initiating action against it. The infrastructure and investment department has already issued a circular yesterday cancelling the controversial orders issued by BP Acharya restricting the APII C from taking any action against the Emaar Properties until further notification.
Ever since the Emaar Properties controversy broke out, the State government is slowly distancing Acharya from the activities of the APIIC. First, Acharya was stripped of his powers in the activities of the APIIC and then the APIIC subject was transferred to the industries and investment department from the industries department.
The latest orders are being viewed as the preparatory work for initiating action against the Emaar Properties ahead of the crucial meeting of the APIIC Board of Directors on October 19.
Sources said the APIIC officials have already been directed to work on the agenda for the Board meeting.
“The prime objective will be recovering the amount due to the APIIC which holds a 26 percent share as part of the agreement. However, any action will be initiated only after dealing with the cases filed by the Emaar Properties in the court,” the officials said.
–Agencies