CBI files charges in Emaar scam, several IAS officials indicted

The Central Bureau of Investigation on Wednesday filed its first chargesheet on Wednesday in the Emaar scandal of Andhra Pradesh, in which several Indian Administrative Services (IAS) officers have been indicted.

The controversy is mainly over the Eemar Hills township project at Nanakramguda near Hyderabad. Other than principal home secretary Bibhu Acharya, his 1983 IAS batch mate and present executive officer of Tirumala Tirupati Devasthanams L V Subramanyam was charged with defrauding the state and, along with other accused, causing losses of overRs 500 crore to the exchequer.

IAS officer K V Rao (1976 batch), who took voluntary retirement a few years ago was also named in the chargesheet that was filed before a special CBI court in Hyderabad.

Others named include chairman of Emaar Properties Pvt Ltd Mohammad Ali Alabbar of Dubai (who is also a senior aide of the ruler of Dubai), Emaar-MGF vice chairman Sushil Gupta of Delhi and the company's director Shrikant Joshi (who now works for Larsen & Toubro), and Koneru Rajendra Prasad and Tummala Ranga Rao of Stylish Homes who catalysed the Emaar deal with the government of Andhra Pradesh.

Subramanyam is also an accused in the Volkswagen scam probed by the CBI where the state government was duped of Rs11 crore. However he has not been prosecuted as the central government has not yet approved his prosecution.

Emaar Hills Township Pvt Ltd (EHTPL), the joint venture company that was floated by the Andhra Pradesh Industrial Investment Corporation (APIIC), Emaar Properties, Dubai and Emaar-MGF, which was later 'illegally' brought in as a co-developer without the knowledge and approval of APIIC, was also named in the chargesheet.