APIIC-Emaar township case: Bail for IAS officer

The special CBI court granted bail to suspended IAS officer BP Acharya in the APIIC-Emaar township case.

Hyderabad: The special CBI court on Friday granted bail to suspended IAS officer B P Acharya in the APIIC-Emaar township case, as the Centre has not yet sanctioned his prosecution.

Acharya, a former home secretary of Andhra Pradesh, and Tirumala Tirupati Devasthanam (TTD) Executive Officer LV Subramanyam, are chargesheeted alongwith 10 others in the Emaar case. But prosecution of both these IAS officers has not been sanctioned yet, so court today granted Acharya bail on a personal bond of Rs 25,000 and two sureties of same amount.
Barring these two, court today took cognisance of the CBI`s chargesheet against the ten accused (which includes private companies) under Indian Penal Code sections relating to criminal conspiracy, cheating, etc; and also under the Prevention of Corruption Act.

Judge B Nagamaruti Sarma had earlier asked CBI to point out how the court can keep a public servant in judicial custody without a sanction for prosecution from the Centre.

The court had also declined to pass any order on a CBI application, seeking a court direction to the Centre to expedite the decision on sanction.

Acharya, arrested on January 31, was vice-chairman and managing director of AP Industrial Infrastructure Corporation (APIIC) in 2005-10. Subramanyam (not yet arrested) was vice-chairman and Managing Director of APIIC when the township
project was conceived during the Telugu Desam rule.

The main allegation against the project developers Emaar is that it sold villas at high prices, after undervaluing the land rates for the government record, causing a loss to exchequer.