Koneru released on bail

Published: 04th August 2012 10:50 AM  |   Last Updated: 04th August 2012 10:50 AM   |  A+A-

Industrialist Koneru Rajendra Prasad walked out of the Chanchalguda central prison after ten months as he was granted a conditional bail by the High court on Friday.

He was arrested by CBI sleuths on November 3, 2011 for his alleged involvement in the Emaar Scam.

The CBI charged him with an allegation that he had sold plots at a rate of Rs 10,000 to Rs 50,000 per square yard but falsified records by showing them as sold for Rs 5,000.

The Emaar case accused expressed hope that he will come clean of all the allegations against him.

“I am very happy with the judgment. I have cooperated with the investigating agency and will continue to do so,” he said.

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