Post date: Aug 19, 2011 5:55:47 AM
The ongoing CBI investigation into Emaar Properties deal may eventually reach the doorsteps of former Chief Minister and Telugu Desam Party President N Chandrababu Naidu.
During the raids conducted at his residence, the former Managing Director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) B P Acharya was believed to have spilled the beans.
He told the CBI sleuths that it was during the TDP rule that the Emaar Properties agreement was signed and a GO was issued to this effect.
The top bureaucrat is learnt to have showed the copy of GO and other documents to implicate Chandraabu Naidu.
In fact, he had even suggested to the CBI officials that they could get more documents in this regard from the Secretariat. Acharya had revealed several key details pertaining to the controversial deal which can put Naidu in a fix.
Naidu’s daughter-in-law Brahmani was among the beneficiaries who purchased a plot in the venture.
The IAS officer has told the investigators that the land for the project was acquired from farmers when Naidu was the Chief Minister and all the important agreements were signed when he was at the helm.
Incidentally, Acharya was Managing Director of APIIC when Dubai-based Emaar had allegedly committed irregularities in developing a township project in the city.
Emaar, which was allotted land by APIIC, allegedly brought down the latter's equity in the joint venture and roped in another company without permission from APIIC, causing a loss of Rs.5,000 crore to the public exchequer.