CBI May Be Arrest BP Acharya Soon

HYDERABAD: The Central Bureau of Investigation (CBI) questioned senior IAS officer and home secretary BP Acharya for more than four hours on Wednesday leading to speculation that the premier investigation agency will arrest him shortly.   Basing the interrogation on clinching evidence of Acharya's involvement in the Emaar Properties case, CBI sleuths took the high ranking IAS officer to an unidentified place and grilled him thoroughly. Though CBI joint director VV Laxminarayna would not confirm Acharya's questioning, other sources said that the top babu was indeed quizzed in detail by CBI sleuths. Acharya was questioned with clear evidence of his involvement in the Emaar scam. Acharya too cooperated with the officials and volunteered information that the agency was seeking. The CBI officials showed him the documents they seized from APIIC, Emaar offices and asked him the sequence of events that led to controversial decisions. CBI sleuths also confronted Acharya with former Emaar director Vijaya Raghavan's confessional statement and asked him what he had to say. Vijaya Raghavan has been cooperating closely with the CBI and sources said that he "has spilled the beans in his statement." BP Acharya is prime accused in Emaar properties case in which CBI has already filed an FIR and submitted a report on the progress of investigation to CBI special court. After obtaining permission of the CBI special court, sleuths are now focusing on questioning of accused. Sources said that arrests will follow in both cases within a week.

APIIC-Emaar Scam: Ambati Kin Among The Beneficiaries

Ambati Rambabu, considered a staunch loyalist of YS Jagan Mohan Reddy, was APIIC chairman during the tenure of late YS Rajasekhar Reddy. He might be feeling happy to see that so far his name hasn't been included in the FIR filed by CBI in the APIIC-Emaar scam, though his brother cornered a villa at the Emaar Hills Township Pvt Limited (EHTPL) at a throw away price. According to Emaar properties reports, Ambati Murali Krishna, brother of Ambati Ram Babu, bought a villa apparently using his brother's influence on EHTPL. According to Emaar properties reports, Ambati Murali Krishna was allotted plot no B-3 spread over an extent of 1,113 square yards at a throwaway price of Rs 5,000 per square yard when the actual market value prevailing at that time was not less than Rs 40,000 per square yard along with other high-profile buyers like industries minister J Geetha Reddy, former PCC chief D Srinivas, TDP president N Chandrababu Naidu's daughter-in-law Nara Brahmani, several bureaucrats, film stars and others. Advocate T Sriranga Rao, who earlier made Ram Babu a respondent in the ACB court in the APIIC-Emaar scandal, alleged Ram Babu benefited from Emaar by getting a villa registered in his brother's name. "There are several influential persons who got the villas registered in their names by officially paying just Rs 5,000. However, the actual market value was more than Rs 40,000 at that time. As a result, APIIC lost several thousands of crores," says Mr. Ranga Rao.