Hyderabad, February 12: The CBI in its chargesheet alleged that the then chief minister Y.S. Rajasekhar Reddy overruled objections and favoured Emaar properties.
The CBI said that though the CDA and the municipal administration department objected to the exemption of conversion of lands and development charges given for the Emaar township, golf course and the convention centre, YSR overruled the objections. The projects were granted exemption to the tune of Rs 28.36 crore.
Government Orders pertaining to the waiver were issued from 2004 to 2007. The then APIIC VC and MD L.V. Subrahmanyam had put forth the proposals for exemption of the integrated project, though the CDA had made it clear that it (the project) was its only source of revenue and no such exemption can be provided under the AP Urban Areas Development Act. However, YSR went ahead, the CBI said. APIIC then handed over 454.93 acres in Manikonda, Gachibowli and Nanakramguda to Emaar Properties PJSC in 2005. The patta land of 77.05 acres was handed over to Emaar Hills Township and Boulder Hills Lesiure Pvt Ltd, the SPVs.
CBI DSP Subash C. Jiani in the chargesheet said that investigations revealed that APIIC moved proposals for the waiver of charges for 15 acres of land for convention centre and Business Hotel and 520 acres for golf course and Township Project. Meanwhile, the CBI also highlighted the violations in the project during the then CM N. Chandrababu Naidu’s regime. The CBI said that during Mr Naidu’s rule in 2002, a clause was inserted in the MoU that created scope for the Emaar MGF to.
–Agencies