Hyderabad: After four years, the Centre has reportedly granted permission to the CBI to prosecute to senior IAS officials L.V. Subrahmanyam and B.P. Acharya in the Emaar Properties-APIIC case.
Mr Subramanyam is now special chief secretary sports and youth, in the AP government and Mr Acharya is with the TS planning department as principal secretary. Both are 1983 batch IAS officials and had served as executive heads of the APIIC from 2004 and 2009.
The officers were chargesheeted by the CBI in 2012 in the case in which Emaar allegedly resorted to fraud causing loss to APIIC. The key allegation against Emaar Hills Township Private Limited is that though the plots were sold at Rs 50,000 per square yard only '5,000 was remitted into the accounts, causing huge loss to AP Industrial Infrastruc-ture Corporation, the government partner.
Residential land spread over 25,810 sq. yd identified by the CBI as belonging to fictitious companies of the EHTPL was attached provisionally by the ED in September 2012 It was alleged that the officials abused their position and helped the companies.
