The Central
Bureau of Investigation, which is probing the Emaar properties-APIIC
scam, 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. And, he misappropriated a sum of `96,01,75,000, it
alleges. A part of the scheme was to develop 285 acres
of land and to have various sizes of plots for villas, town homes and
apartments with a land use plan to provide the residents a maximum view
of the golf course.On February 1 the investigation agency filed
the charge sheet against seven accused persons and five private
companies before the special judge for CBI cases.The voluminous
charge sheet includes the names of senior IAS officer LV Subrahmanyam,
who is now TTD executive officer, besides arrested IAS officer BP
Acharya and a retired IAS officer Vishveshwara Rao.The name of Madhu Koneru, son of industrialist Koneru Prasad (already arrested), has also been included.According
to the charge sheet, Koneru Prasad was the person behind the project
and he was instrumental in the memorandum of understandings and other
agreements being signed and government orders issued pursuant thereto.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.
By MouliMareedu
moulimareedu@gmail.com
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