STOCK MARKET BSE NSE

Andhra IAS officer gets bail in Emaar case

HYDERABAD: After remaining behind the bars for one-and-half months, Indian Administrative Service (IAS) officer B.P. Acharya came out of jail Friday following the grant of bail by a special co

Published: 16th March 2012 03:03 PM  |   Last Updated: 16th May 2012 06:36 PM   |  A+A-

HYDERABAD: After remaining behind the bars for one-and-half months, Indian Administrative Service (IAS) officer B.P. Acharya came out of jail Friday following the grant of bail by a special court here hearing the Emaar-APIIC township corruption case.

Central Bureau of Investigation (CBI) Special Judge B. Naga Murthy Sarma rejected the probe agency's plea for putting off the implementation of the bail order for five days.

He ordered the suspended IAS officer's release from Chanchalguda central jail as the central government ws yet to get permission from the central government for prosecuting him.

The judge while granting bail asked the bureaucrat to deposit two sureties of Rs.25,000 each.

Even before Acharya's family members could begin formalities for the bail, the CBI moved the court saying that the officer should not be released on bail till March 20.

The CBI opposed the bail on the ground that Acharya was the prime accused in the case and had vital information relating to the case. The agency told the court that it was expecting the nod soon from the central government for prosecuting him.

The CBI is now likely to move the Andhra Pradesh High Court against the special court's order.

Acharya was principal secretary (home) when he was arrested by the CBI Jan 30. However, his name did not figure in the charge sheet filed Feb 1.

The IAS officer of 1983 batch was vice chairman and managing director of the Andhra Pradesh Industrial Infrastructure Corp (APIIC) when its equity was reduced in a joint venture with Dubai-based real estate major Emaar, causing huge losses to the state exchequer, the CBI said.

Industrialist Koneru Prasad, businessman Sunil Reddy and Emaar MGF finance head south Vijayraghav are also currently in jail in the case.

The CBI booked Acharya, Emaar Properties, its Indian associates and their executives in August last year after the high court ordered a probe on petitions by then state minister Shankar Rao and some leaders of the Telugu Desam Party.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp