Deputy Legal Advisor of C.B.I., Mr. B.Ravindernath told that in the supplementary charge sheet submitted by C.B.I., criminal transactions have been highlighted in Emaar properties case. In addition to it, the names of witnesses and other documents have also been produced. C.B.I. is investigating the irregularities committed in the transfers of bungalows and apartments. So far, senior I.A.S. officer, Mr. B.P. Acharaya has been charge sheeted. In addition to him, there are 11 more accused persons in this case. At present, Mr. Acharya is Central Jail in Chanchalguda.
He was Vice Chairman and Managing Director of A.P. Industrial Infrastructure Development Corporation for the period from 2005-10. The actual issue in this case is the devaluation of A.P.I.I.C’s shares.
A C.B.I. officer revealed that when lands were being acquired for Emaar Township in 2005, an influential family of Hyderabad was kept away from these transactions. Their lands were not acquired.
—Siasat News