CBI petition against Acharya’s bail to be reviewed

March 20, 2012 16:49
CBI petition against Acharya’s bail to be reviewed

The High Court today in Hyderabad, pronounced that the CBI’s plea relating to Acharya’s bail will be taken up for hearing on Thursday. The High Court also said that the offenses committed by BP Achary were similar to Koneru Prasad, hence the disparity cannot be agreed upon. The Suspended IAS officer B P Acharya got bail from the CBI court in Nampally in the APIIC EMAAR case, late last week.

The special CBI judge cited earlier that the CBI failing to secure sanction from the Government of India to prosecute Mr. Acharya and hence he could not extend his judicial remand further. The bail was granted to the officer on a personal bond of Rs 25,000 and two sureties of same amount.

Mr Acharya was the was Vice-Chairman and Managing Director of A. P. Industrial Infrastructure Corporation (APIIC) from 2005 to 2010, the time when the EMAAR case dates back. As per the case the Corporation allotted 535 acres to the EMAAR Township, which was later sold as plots at very menial costs to the proposed residents. The CBI also investigated that in reality the plots were sold at much higher rates.  (With inputs from internet- AarKay)

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