CBI files supplementary chargesheet in APIIC-Emaar case

The CBI Saturday filed a

supplementary chargesheet in APIIC-Emaar properties deal case

in a local court."The chargesheet mentioned the end-use of crime

proceeds of the deal. Additional witnesses and documents were

produced in the supplementary chargesheet filed in the special

CBI court here," deputy Legal Advisor to CBI B Ravindranath

told PTI.The CBI, which is investigating the alleged

irregularities in transfer and sale of villas and apartments

in an upscale township in Hyderabad, had named senior IAS

officer B P Acharya, presently under judicial remand in

Chanchalguda jail here, and 11 others in its main chargesheet

filed on February 1 in a local court.Acharya was the vice-chairman and managing director of

the Andhra Pradesh Industrial Infrastructure Corporation

(APIIC) during 2005-10 when the alleged irregularities were

committed.The controversy centres around dilution of APIIC's

equity in the project and also Emaar roping in its group

company Emaar MGF Land Ltd as a co-developer for the 258-acre

integrated township project at Gachibowli here involving

construction of residential villas, apartments and a golf

course.A CBI official said on condition of anonymity that the

land belonging to an "influential family from the state" was

"purposefully excluded" when the lands for the project were

being acquired during 2005-10."Some of the land which was handed over to APIIC for

the project was later encroached upon by some individuals," he

said.The alleged scandal is said to have caused the loss of

Rs 215 crore to the state exchequer, the official added.The developers of Emaar integrated township project

are accused of undervaluing the lands that were sold at higher

prices to individual buyers causing huge revenue loss.