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LATEST NEWS UPDATES | IAS in Emaar scam net

IAS in Emaar scam net

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published Published on Jan 31, 2012   modified Modified on Jan 31, 2012
-The Telegraph

A senior IAS officer was arrested today for alleged involvement in the Emaar MGF scandal dating back to Y.S.R. Reddy’s tenure as Andhra chief minister.

B.P. Acharya, now principal secretary in the home department, is the second senior IAS officer based in the state to be held on corruption charges in recent months.

Y. Srilakshmi was held in an illegal mining case involving former Karnataka minister G. Janardhana Reddy.

Acharya was managing director of the state-run Andhra Pradesh Industrial Infrastructure Corporation (APIIC) from 2005-09 when the Emaar irregularities occurred.

APIIC had struck deals with the Dubai-based infrastructure group to develop a township.

Acharya is alleged to have overseen the deal and facilitated the subsequent dilution of the government’s stake in the housing project from 26 per cent to 6.5 per cent, causing a revenue loss to the government estimated at Rs 4,300 crore.

This morning, Acharya appeared before the investigating agency and after a four-hour grilling, the sleuths took him into custody.

Later in the day, a CBI court remanded him in two days’ custody for interrogation. The deadline to file the chargesheet ends tomorrow. Acharya appeared panicky and distraught outside the CBI office as he tried to make last-minute calls, apparently to avert his arrest, but failed. He refused to speak to the reporters who had gathered outside.

The CBI has interrogated nearly half-a-dozen IAS officers in the case. They include the present Tea Board chairman M.G.V.K. Bhanu, K. Prabhakar Reddy. All of them were posted in the chief minister’s office when Y.S.R. was at the state’s helm.

Acharya is the fourth person to be arrested in the case. Last week, the CBI picked up Sunil Reddy, a close aide of Y.S.R’s son, Kadapa MP Jagan Mohan Reddy. Sunil is alleged to have received Rs 70 crore from the Emaar group in commissions.


The Telegraph, 31 January, 2012, http://www.telegraphindia.com/1120131/jsp/nation/story_15072823.jsp


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