The issue came up before the court on Thursday pertaining to the bail petition of Koneru Rajendra Prasad, an accused in the EMAAR scam case, made the CBI red faced. The court posed various questions on the discrepancies adopted by the investigation agency in the case. The AP High Court Justice K C Bhanu questions the authorities as to why action was not taken against Shravan Gupta, the Managing Director of EMAAR-MGF Land Ltd, who was eluding the law. For this the CBI counsel P.Kesava Rao replied that he was absconding. The judge instantly retorted in that case why the Red Corner notice was not sought? The CBI had no answers to the question, as it had earlier sought trial court to issue summons, only. Gupta is one of the 14 accused in the EMAAR scam case and is charged with misappropriation of public money and assets.
The judge sought various documents of the said deal between the private real estate player and the government body APIIC. The court also questioned the authority for issuing GO for enabling a private player access to prime land by the government. The court dealt deftly against the various issues pertaining to the case and sought all the details on impending issues.
On an issue the counsel for Koneru told the court that all the land was transferred to EMAAR at Rs 29 lakh per acre and maintained that it was an absolute sale. Then the court questioned that why the money did not reach the exchequer. CBI instantly replied that EMAAR allotted shares to the state instead of paying cash. "If it is an absolute sale, how can shares be allotted?" questioned the judge.
The court finally posted the Koneru bail plea for Tuesday. On that day the court will also look into CBI petition challenging the bail orders issued to BP Achary, the suspended IAS official in the case. (With inputs from internet- AarKay)