The Central Bureau of Investigation on Saturday arrested Emaar Hills and Township CEO Vijaya Raghavan in the Emaar-APIIC scam.
Vijaya Raghavan was taken into custody when he came to the Dilkusha Guest House after being summoned by the CBI. He was questioned for a few hours and was later arrested. He was later produced before the Special CBI Court which sent him to judicial remand till January 30. On court's direction, he was later shifted to Chanchalguda Central Prison.
Meanwile, the CBI has filed a petition before the court seeking 15-days custody of Raghavan for further interrogation. The court is yet to hear the petition. The probing agency officials claimed that Raghavan possess crucial evidences in the Emaar scam.
The CBI had earlier arrested Koneru Prasad of Stylish Homes and Sunil Reddy, a close aide of YSR Congress party president Jagan Mohan Reddy in the Emaar scam. (INN)
2012/2/24 7:26:54 Hyderabad, Feb 24 (INN): The CBI Special Court on Friday adjourned the hearing on bail petition of Vijay Raghavan, the accused in Emaar-APIIC scam, to February 28.
While admitting Vijay Raghavan's bail petition, the court directed the CBI to file its counter petition.
Presently, Vijay Raghavan is lodged in Chanchalguda Central Jail. Earlier, the CBI Court extended the judicial remand of Vijay Raghavan to March 7.
In another case, the court rejected the bail petition of Koneru Prasad, another accused in the Emaar scam.
2012/1/31 8:13:51 CBI joint director VV Laxminarayana on Tuesday denied allegations that the agency was using third degree methods to extract information from the accused in Emaar or other scams.
Talking to media persons after meeting Chief Secertary Pankaj Dwivedi at the State Secretariat, Laxminarayana said that some accused have been leveling baseless charges against the CBI in the court. He said the CBI never uses third-degree methods during interrogation. It may be mentioned that Vijaya Raghavan, an accused in the Emaar case, has alleged that he was subjected to third-degree methods by the CBI.
Regarding senior IAS officer BP Acharya, who was arrested in the Emaar scam on Monday, the CBI Joint Director said that the charge-sheet against him would be filed at a later stage depending upon the progress of the investigation. He also said that the CBI was waiting for some necessary approvals to file charge-sheet against another IAS officer Y Srilakshmi in Obulapuram Mining Corporation case.
Laxminarayana said that CBI was not targeting any individual or group. He said all the arrests were being made depending upon the progress of the investigation. When asked about the possibility of YSR Congress party president Jagan Mohan Reddy's arrest, he said it would depend upon the progress of investigation in the case. However, he maintained that the CBI would continue its investigations and arrests, irrespective of the status of the accused.
He said that he has briefed the Chief Secretary about the status of investigations into various cases.
The CBI joint director also appealed to the media not to publish stories based on mere speculations and cross-check the facts with the CBI officials. He said that the CBI would brief the media on regular basis regarding the progress of investigations in different cases. (INN)
2012/2/7 15:00:41 Hyderabad, Feb 7 (INN): Andhra Pradesh Industrial Infrastructure Corporation chairman S Shiva Rama Subramaniam on Tuesday denied allegations that he has black mailed Finance Head (South) of Emaar MGF Vijaya Raghavan.
Talking to reporters at Gandhi Bhavan on Tuesday, Subramaniam said that some villa buyers in their petitions filed in the Andhra Pradesh High Court have alleged that he has reportedly asked Raghavan to buy him villas in Dubai. He said that allegations were baseless and far from truth. He asked the petitioners to prove their allegations or withdraw them. Else, he threatened to commit suicide at Gandhi Bhavan.
Subramian said that the Central Bureau of Investigation should interrogate those who purchased villas in the Emaar-MGF township to reach the bottom of truth. He said thorough investigation into the case would expose the real faces behind the scam.
CBI court extends custody of OMC, Emaar cases accused
2012/2/22 6:35:54 The CBI Special court on Wednesday extended the judicial custody of mining baron and former Karnataka minister Gali Janardhan Reddy, OMC managing director B Srinivas Reddy, former mines director V D Rajagipal and another accused IAS officer Y Srilakshmi to March 7.
The CBI court extended the judicial custody of the four accused following expiry of their custody on Wednesday.
The designated court also extended the judicial custody of B P Acharya, Koneru Prasad, Sunil Reddy and Vijaya Raghavan, the accused in the Emaar scam, up to March 7.
However, the court rejected the CBI petition seeking further police custody of Srilakshmi and Rajagopal contending that the petition did not address the issue correctly. (INN)
2012/2/14 6:16:04 Former Chief Executive Officer of Emaar Township and Hills Project Vijay Raghavan on Tuesday filed a petition in the Andhra Pradesh High Court seeking directions to the CBI to remove his name from the Emaar Properties case.
Filing the petition in the court, Vijay Raghavan's counsel stated that the CBI has not leveled any charges against his client in connection with the case. In the petition, the counsel made probing agency CBI and Union Home Ministry as respondents. As the CBI did not file any charges against Vijay Raghavan, the counsel appealed to the court to remove his name from the Emaar Properties case.
Meanwhile, in the disproportionate assets case of Kadapa MP Jagan Mohan Reddy, the CBI Special Court on Tuesday extended the judicial remand of Jagati Publications vice-chairman and financial auditor Vijay Sai Reddy till February 21. (INN)
2012/2/1 14:58:47 The Central Bureau of Investigation on Wednesday filed chargesheet against 12 accused including senior IAS officer BP Acharya in the APIIC-Emaar properties scam.
The CBI has alleged that Acharya reduced the APIIC's stake in the township at Gachibowli spread across 258-acres from 26 per cent to a mere 0.6 per cent causing huge loss to the State's exchequer. He has been charged of entering into a criminal conspiracy with officials of Emaar Group and unknown public servants to cheat the APIIC. Another IAS officer and TTD's Executive Officer LV Subramanyam has also been named in the chargesheet.
Along with 157-pages chargesheet, the CBI has also attached 1,834 supporting documents. As many as 286 witnesses have also been examined. Those named in the chargesheet include Emaar Properties, Mohammad Ali Akbar, Emaar-MGF, EHTPL, Koneru Prasad, Srikanth Joshi, Boulder Hills, Visvesvewar Rao, Koneru Madhu and T Ranga Rao.
The other accused Sunil Reddy and Vijaya Raghavan who have been arrested in the case have not been named. Sources say that the CBI might file an additional chargesheet against them.
While industrialist Koneru Prasad was arrested on November 3 last year, Acharya was arrested on January 3. Similarly, the CBI arrested N Sunil Reddy, a close aide of YSR Congress party president Y S Jagan Mohan Reddy on January 24 while Vijayaraghav, the finance head of Emaar-MGF (south) was arrested on January 28.
All the four accused were produced before the Special CBI court on Wednesday which remanded them in judicial custody till February 15.
Meanwhile, the court has posted the hearing on Acharya's bail petition to February 3. (INN)
2012/3/31 6:04:16 Former minister Dr P Shankar Rao on Saturday defended the statements of arrested IAS officer B P Acharya that the real conspirators in Emaar land scam have escaped and he was falsely implicated in the case.
Talking to media persons at the Congress Legislature Party office, Shankar Rao said that he had sent a legal notice to Acharya advising him to disclose the conspirators' names in the Emaar case. With probe continuing in the Emaar scam, he appealed to the CBI to submit a supplementary chargesheet in the court by including the names of real conspirators as accused.
As the officers and ministers have played a crucial role in the scam, he appealed to the CBI to conduct thorough investigation against them to get complete facts. (INN)
2012/1/30 15:39:45 The Special CBI Court on Monday granted two day custody to senior IAS officer BP Acharya in the Emaar scam.
Earlier in the day, Acharya was arrested by the CBI for his alleged role in irregularities in land transfer and sale of villas and apartments in Emaar Township. Acharya, the 1983 batch IAS officer of Andhra Pradesh cadre, has been named as the prime accused in the multi-crore scam.
The Principal Secretary for Home, Acharya, was called for questioning at the CBI office was later taken into custody. Later, he was produced before the CBI Court which remanded him to two day CBI custody for further interrogation. The court asked the probing agency to produce him again on February 1 by 4 pm.
Meanwhile, Acharya has also moved a bail petition in the court seeking release on health grounds. However, the court has posted the hearing on bail petition to February 1.
Meanwhile, the court has also extended the judicial remand of two other accused Sunil Reddy and Vijaya Raghavan till February 1.
The CBI on August 17 registered a case against Acharya and the real estate developer on instructions of the state high court under sections 120 (B), 13/2, 13/1/C, 409, 420, 477 (A) of the Indian Penal Code and the Prevention of Corruption Act.
The case relates to alleged dilution of APIIC equity from 49 per cent to 26 per cent in the land development project in Manikonda, which was being developed jointly by the and Dubai-based Emaar. It has also been alleged that villas and apartments were shown underpriced in the documents causing losses to the exchequer.
Earlier, the CBI has also arrested famous industrialist Koneru Prasad in this case.
Acharya is the second serving IAS officer after Y Srilakhsmi to be arrested on the charges of corruption and irregularities. Srilakhsmi, who was arrested in the Obulapuram Mining Corporation, is presently lodged in Chanchalguda Women's Jail. (INN)
Court extends judicial remand of Emaar case accused
2012/4/18 3:24:36 Hyderabad, April 18 (INN): The CBI Special Court on Wednesday extended the judicial remand of three accused including senior bureaucrat BP Acharya in the APIIC-Emaar scam.
While BP Acharya's judicial remand has been extended till April 27, the judicial custody of Sunil Reddy, a close aide of YS Jagan Mohan Reddy, has been extended till April 23. The judicial custody of Emaar MGF Land Limited South Indian Finance head G V Vijay Raghav has been extended till April 26. The court took this decision as their jucial custody expired on Wednesday.
According to reports, the probing agency is likely to file charge sheet in the APIIC-Emaar scam by next week.
2012/5/7 4:00:35 Hyderabad, May 7 (INN): The CBI Special Court on Monday adjourned the hearing to May 18 on the counter petition of Central Bureau of Investigation opposing grant of bail to Srikant Joshi, an accused in the Emaar case.
Joshi was the CEO of Emaar-MGF and has been named as an accused in the scam.
Earlier, Srikant Joshi filed anticipatory bail plea alleging that the agency was harassing him and his family even after filing of charge sheet. Following which, the court directed the CBI to file counter petition in this regard.
The special court also extended the judicial remand of N Sunil Reddy, another accused in the Emaar scam and close aide of Kadapa MP Y S Jagan Mohan Reddy, to May 17. The court took this decision following expiry of Sunil Reddy's custody on Monday.
2012/2/3 13:43:22 The Andhra Pradesh High Court on Friday granted CBI custody for N Sunil Reddy and Vijay Raghava, for further interrogation into the APIIC-Emaar scam.
While Sunil was granted three days' custody, Vijay Rahghavan would be in CBI's custody for five days. The court directed the probing agency to conduct interrogation from 8 am to 6 pm and also conduct the medical check-up of both the accused.
CBI arrested N Sunil Reddy, a close aide of YSR Congress party president Y S Jagan Mohan Reddy on January 24 while Vijayaraghav, the finance head of Emaar-MGF (South) was arrested on January 28. (INN)
2011/9/10 7:17:35 The YSR Congress party on Saturday demanded that the Central Bureau of Investigation make former chief minister and TDP president N Chandrababu Naidu as the main accused in the Emaar Properties case.
Addressing a press conference, YSR Congress state coordinator PNV Prasad said the irregularities in the Emaar Properties began in the year 2000 when Chandrababu Naidu was the chief minister. He said in association with one Koneru Prasad, Naidu developed friendship with the Dubai-based Emaar Group chairman Alabair. Later in 2002, without verifying the facts and in total violations of the rules, Naidu allotted 535 acres of land to Emaar.
Stating that former chief minister YS Rajasekhara Reddy and Kadapa MP YS Jagan Mohan Reddy were uncessarily being dragged into the controversy; Prasad said the CBI must go into the depth to trace out the roots of Emaar scam. He said neither YSR nor Jagan had anything to do with the irregularities in the Emaar Properties. He also alleged that Sonia Gandhi's son-in-law Robert Vadra was a director in the Emaar-MGF and the CBI must probe the involvement of Gandhi's family into the Emaar scam.
The YSR Congress leader ridiculed Chandrababu Naidu's movement against corruption. "After indulging in so many scams, today Chandrababu Naidu is trying to act like Anna Hazare of Andhra Pradesh," he said. A thorough probe into the irregularities would unravel the truth and unmask the real culprits behind the scams, he added. (INN)
2012/1/9 13:23:54 Supreme Court on Monday issued notices to former chief minister N Chandrababu Naidu in connection with the alleged irregularities in allotment of land in APIIC and Emaar Properties scam.
A division bench comprising Justice Mishra and Bhandari issued notices to Naidu asking why he should not be probed in the scam and also served notices to CBI and state and Central governments as respondents.
The apex was hearing a petition filed by one Bheemreddy Yella Reddy, a freedom fighter from Warangal district, who sought directions to CBI to investigate role of Chandrababu Naidu in scam. Yella Reddy also submitted key documents as evidence in this connection.
Former APIIC chairman Ambati Rambabu had appealed to CBI to investigate TDP president N Chandrababu Naidu’s role as well as the scam and agreements took place during TDP regime in 2002.
Ambati Rambabu also submitted key documents to the probing agency as evidence during his interrogation on Sunday. (INN)
2012/1/8 12:19:57 YSR Congress party official spokesman and former Andhra Pradesh Industrial Infrastructure Corporation chairman Ambati Rambabu on Sunday stated that the alleged irregularities in the APIIC-Emaar Properties scam did not take place during his stint as the chairman from 2005-2007.
Talking to media persons after facing questioning by the Central Bureau of Investigation in connection with Emaar Properties case at Dilkusha Guest House, Ambati Rambabu said that the two decisions during his regime —the decrease in APIIC’s share and inclusion of Emaar-MGF — were not brought to the notice of the board during his tenure. He said that he has produced all relevant documents before the probing agency.
He said the agreements in connection with all those deals took place during the stint of former chief minister N Chandrababu Naidu during 2002. He said that he had appealed to CBI to investigate into the agreements that took place in 2002 also. He said that the APIIC suffered heavy losses due to provisions in the GOs issued during the TDP's regime.
Ambati said that the CBI has not questioned anything related to the disproportionate assets case of YS Jagan Mohan Reddy. The probing agency questioned Ambati Rambabu for nearly three hours on Emaar properties.
Earlier, the CBI has served notices to Ambati Rambabu in the Emaar scam and asked him to appear before it by January 8. The investigation agency has already arrested businessman Koneru Prasad in the Emaar-APIIC case. (INN)
2011/10/23 3:15:50 The Telugu Desam Party has accused a vernacular daily of trying of malign the image of its president N Chandrababu Naidu by dragging his name in the irregularities in the Emaar Properties.
Talking to reporters at NTR Trust Bhavan here on Sunday, TDP MLA P Keshav said that the vernacular daily owned by Kadapa MP YS Jagan Mohan Reddy has wrongly accused Chandrababu Naidu of playing a role in the irregularities conducted in the Emaar Properties. The daily has wrongly linked Naidu's name with the industrialist Koneru Prasad to malign his image, he said.
However, Keshav said that Koneru Prasad and former Chief Minister YS Rajasekhara Reddy were close friends and had family relations for the last three generations. He said although Naidu allotted land for Emaar Properties in 2002 through a global tender, it was YSR who as a chief minister indulged in several irregularities. Describing the vernacular daily's reports as false and baseless, he said that Jagan Mohan Reddy was resorting to mudslinging in order to save himself from the scam.
Claiming that Naidu would come out clean if an impartial and transparent enquiry is conducted into the scam, he asked the management of vernacular daily to come out with evidences to prove its allegations Chandrababu Naidu. (INN)
2012/1/9 13:22:37 TDP politburo member Payyavula Keshav on Monday came down heavily on former APIIC chairman Ambati Rambabu linking Telugu Desam president N Chandrababu Naidu to the irregularities in Emaar Properties scam.
Talking to media persons at NTR Trust Bhavan, he rubbished the charges of Ambati Rambabu and alleged that he was misleading the people by showing the GO 359 issued during the TDP regime in 2002.
Stating that the irregularities in allotment of lands between APIIC and Emaar Properties took place during the stint of Ambati Rambabu, he said, TDP was ready for a public debate on Emaar scam at any time.
The politburo member alleged that Congress had handed over the prime land to influential persons on a platter in exchange for huge bribes and also allotment of Villas. Payyavula Keshav stated that the role of Ambati Rambabu would be exposed if the CBI probes Bhomiteja Enterprises scam thoroughly.
He alleged that YSR Government had diluted APIIC and Emaar agreement and took decisions according to its whims and fancy, causing huge loss to state exchequer. He also found fault in Ambati Rambabu issuing guidelines to CBI on their functions and how they should investigate the case.
“It is strange that accused are advising the CBI on how they should be probed,” he stated. (INN)
2012/2/28 1:46:21 The CBI special court on Tuesday posted the hearing on bail petition of GV Vijaya Raghav, finance head for Emaar MGF Limited, to Wednesday.
The court has also directed the Chanchalguda Jail authorities to produce Vijaya Raghav in the court on Wednesday. It may be mentioned that the court has already directed the probing agency to file counter petition in this case by Wednesday.
Earlier,Vijaya Raghav's counsel said that his client was innocent and had nothing to do with thsi case. He also assured that Raghav would extend full cooperation to the probing agency and disclose whatever information he had with him. (INN)
Koneru's bail petition hearing adjourned to May 21
2012/5/15 3:10:55 Hyderabad, May 15 (INN): The CBI Special Court at Nampally on Tuesday adjourned the hearing to May 21 on bail petition of Trimex group chairman Koneru Prasad, the key accused in the Emaar- APIIC properties scam.
The court adjourned the hearing to May 21 after the probing agency filed a counter petition opposing the bail petition to Koneru Prasad. In its petition, the CBI claimed that giving bail to Koneru Prasad would affect the progress of the case and he might tamper with the evidence by threatening witnesses.
Prasad, the promoter of Stylish Homes Real Estate Private Limited and one of the marketing agents for Emaar, has been accused of selling villas and plots at a premium but showing sale at lower prices in the records.
Prasad, a key accused in the Emaar case, was instrumental in the APIIC-Emaar land deal and allegedly had a role in diluting APIIC’s equity and roping in its group company Emaar MGF Land Pvt Ltd as a co-developer of the township (built at Gachibowli in Hyderabad) which resulted in reduction of stake and loss to the APIIC, the CBI alleged.
2012/3/16 6:27:31 The CBI Special Court on Friday granted bail to suspended IAS officer B P Acharya who was arrested by the CBI in connection with the Emaar Township scam.
While sanctioning the bail, Special Court Justice B Nagamaruthi Sarma observed that he was taking cognizance of the chargesheet only. With the CBI failing to secure sanction from the Central Government to prosecute Acharya, he could not extend his judicial remand further, the judge observed.
The judge granted bail to Acharya on the condition that he should furnish two personal bonds of Rs 25,000 each.
The court granted bail to Acharya after he along with Trimex Group Chairman Koneru Prasad was produced before the court through video linkage with the Chanchalguda Central Jail. However, the court extended the remand of Koneru Prasad till March 30.
Acharya was arrested on January 30, a day prior to the CBI filing the chargesheet in the case.
Acharya was Vice-Chairman and Managing Director of AP Industrial Infrastructure Corporation from 2005 to 2010 when the Corporation assigned 535 acres of land at Nanakramguda here to Dubai-based Emaar Properties for development of a township that included villas and apartments. (INN)
2012/4/27 5:37:11 Hyderabad, April 27 (INN): Koneru Madhu, son of Koneru Prasad, who is 13th accused in Emaar –APIIC scam, was surrendered before the CBI special court in Nampally on Friday.
The CBI in its charge sheet alleged that Rs1.05 crores has been transferred from Emaar funds to Koneru Madhu accounts.
After his surrender in the court, the probing agency has sought custody of Koneru Madhu. However, the court adjourned the CBI custody petition to May 17.
It may be recalled that the CBI has earlier filed a petition seeking the arrest of Koneru Madhu in connection with Emaar scam. Following the CBI plea, the court issued summons to Koneru Madhu, who was in Dubai, to surrender before the court.
The CBI says in its charge sheet that Koneru Prasad, the key accused in the case, was the person who introduced the Dubai-based company to the state government to promote and develop an integrated project consisting of an international convention centre, a star hotel, a golf course and residential villas.
Stylish Homes Pvt Ltd was Prasad’s brain child and was instrumental in entering into an agency agreement with Special Purpose Vehicle (SPV-I) and Emaar Town Hills Private Limited, a joint venture company.
Its director Tummala Ranga Rao acted at the behest of Prasad and sold the villas over and above the documented price of `5,000 a square yard and collected a sum of `138 crore which was not accounted for.
The money so collected was disbursed as per the instructions of Prasad herein clandestinely to have a wrongful gain and to cause wrongful loss to the APIIC.
The CBI alleges that Koneru Prasad misappropriated a sum of `96 crore and committed criminal breach of trust and misappropriation of public funds.
Meanwhile the special court extended the judicial remand of senior bureaucrat B P Acharya and Koneru Prasad, the accused in Emaar case, to May 17.
The court extended the remand as their custody ended today.
The Central Bureau of Investigation on Saturday arrested Emaar Hills and Township CEO Vijaya Raghavan in the Emaar-APIIC scam.
CBI joint director VV Laxminarayana on Tuesday denied allegations that the agency was using third degree methods to extract information from the accused in Emaar or other scams.
Former Chief Executive Officer of Emaar Township and Hills Project Vijay Raghavan on Tuesday filed a petition in the Andhra Pradesh High Court seeking directions to the CBI to remove his name from the Emaar Properties case.
The Central Bureau of Investigation on Wednesday filed chargesheet against 12 accused including senior IAS officer BP Acharya in the APIIC-Emaar properties scam.
Former minister Dr P Shankar Rao on Saturday defended the statements of arrested IAS officer B P Acharya that the real conspirators in Emaar land scam have escaped and he was falsely implicated in the case.
The Special CBI Court on Monday granted two day custody to senior IAS officer BP Acharya in the Emaar scam.
The YSR Congress party on Saturday demanded that the Central Bureau of Investigation make former chief minister and TDP president N Chandrababu Naidu as the main accused in the Emaar Properties case.
Supreme Court on Monday issued notices to former chief minister N Chandrababu Naidu in connection with the alleged irregularities in allotment of land in APIIC and Emaar Properties scam.
YSR Congress party official spokesman and former Andhra Pradesh Industrial Infrastructure Corporation chairman Ambati Rambabu on Sunday stated that the alleged irregularities in the APIIC-Emaar Properties scam did not take place during his stint as the chairman from 2005-2007.
The Telugu Desam Party has accused a vernacular daily of trying of malign the image of its president N Chandrababu Naidu by dragging his name in the irregularities in the Emaar Properties.
TDP politburo member Payyavula Keshav on Monday came down heavily on former APIIC chairman Ambati Rambabu linking Telugu Desam president N Chandrababu Naidu to the irregularities in Emaar Properties scam.
The CBI Special Court on Friday granted bail to suspended IAS officer B P Acharya who was arrested by the CBI in connection with the Emaar Township scam.
