New Delhi: CBI today arrested senior IAS
officer and Andhra Pradesh Principal Home Secretary B P
Acharya in a case relating to alleged irregularities in land
transfer and sale of villas and apartments in a township in
The township has been jointly developed by state-run
Andhra Pradesh Industrial Infrastructure Corporation (APIIC)
and Dubai-based infrastructure firm Emaar.
A 1983 batch IAS officer of Andhra Pradesh cadre,
Acharya, who was the then Managing Director of the APIIC, has
been named by the agency in the FIR and his residences were
searched in August last year.
He was called for questioning at the CBI office in
Hyderabad and was later taken into custody, agency sources
Recently, the CBI has arrested Sunil Reddy, said to be a
close aide of Kadapa MP Y S Jagan Mohan Reddy, in the case.
The CBI on August 17 registered a case against Acharya
and the real estate developer on instructions of the state
high court under IPC sections pertaining to cheating, criminal
conspiracy and provisions of 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, Hyderabad, which was being developed jointly by the
Corporation and Emaar.
It has also been alleged that villas and apartments were
shown underpriced in the documents causing losses to the
exchequer, CBI sources said.
The agency has so far made three arrests including that
of Acharya in the case.