(Excl Ventures News.)The AP Industrial Infrastructure Corporation (APIIC) land scam took a new turn on Tuesday with the special court dealing with Anti-Corruption Bureau (ACB) cases directing the director general of the bureau to probe the role of three officials and the allotment of land to 13 companies,including the Emaar group,by the state government agency. The directive by ACB principal special judge B Sudheer Kumar came on a petition filed by advocate T Sriranga Rao who alleged that the APIIC parted with valuable land belonging to the corporation in a whimsical way,resulting in a loss of thousands of crores of rupees to the exchequer.
The petitioner listed 13 land deals involving the APIIC authorities and 13 private companies.The three officials whose roles will be probed by the ACB are those who were at the helm of affairs in APIIC when these deals were struck - senior IAS officer B P Acharya,who was the MD,chairman Ambati Rambabu and advisor D Parthasaradhi Rao.The ACB has been given time till November 24 to investigate and file his report before the court. The petitioner alleged that the three officials had made personal gains by favouring the private companies to the detriment of the corporations interests.Apart from the Emaar-APIIC deal,by which 258 acres were given away to the private developer at a throwaway price of Rs 29 lakh per acre,the petition,based on information gathered through an RTI appeal by the advocate,lists APIICs dealings with Varun Motors,Bhuviteja Enterprises (India ) Pvt Ltd,Neuland Laboratories Ltd,Prakruthi Infrastructure & Development Company Ltd,among others. In the case of the Emaar deal,the petitioner claims that Acharya along with advisor Parthasaradhi Rao,both of whom the departments nominated directors in the Emaar-APIIC joint venture (Emaar Hills Township Ltd),not only allowed Emaar to hand over its developmental rights to Emaar MGF but also let the governments stake drop drastically over the past seven years.It was chairman Rambabu who had nominated these two officials as directors,the petition said. As per the petition,APIICs current stake in the revenue from the sale of plots,villas,flats and commercial development now stands at a meagre 6.5 per cent and in the case of lease rentals is only about 1.5 per cent.This,against APIICs initial stake of 26 per cent in the project. Comment :
Keyword Tags Hyderabad News,APIIC, Emmar
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