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CBI On Lookout For EMAAR Director

CBI On Lookout For EMAAR Director

posted on Aug 26, 2011 @ 8:18PM

Subsequent to the CBI declaring that they would make arrests if the accused in Jagan and Emaar cases do not cooperate in the investigation, one of the accused in Emaar case is said to have fled the country. The CBI authorities on Thursday are believed to have sealed the residence of Emaar director T Ranga Rao located in Banjara Hills.

Ranga Rao appeared before the CBI sleuths during their preliminary probe but by the time they could obtain search warrants after the comprehensive probe was ordered by the AP High Court, he fled the country and is reported to be in the US. "His house was found locked a few days ago. All the notices sent to him were also returned because no one was available at the residence. Unable to search his premises, the CBI on Thursday sealed the premises and pasted a notice on the main door of the house asking Ranga Rao to appear before the agency whenever he returns," said the sources.

The CBI has reportedly sought extension of time from the CBI special court to execute the search warrant in the hope that Ranga Rao returns to Hyderabad soon. If Ranga Rao fails to comply with the notice even belatedly, then the last option for the probe agency is to obtain the court's permission to break open the doors of the house in the presence of the revenue authorities for carrying out the search. In addition to this, the CBI has already obtained warrants to search the houses of APIIC's former advisor Parthasarathy Rao, former chairman Ambati Rambabu, former managing director B P Acharya and others.

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