IAS officer's bail cancelled in Emaar scam

Senior IAS officer and Andhra Pradesh Home Secretary B P Acharya was back in jail Tuesday after the High Court cancelled his bail in a corruption case.

Acharya, a 1983 batch civil servant, is the main accused in the multi-crore Emaar Properties scam. He was granted bail on March 16 by a special CBI court here.

However, based on an application filed by the CBI, the High Court struck down the bail granted earlier and asked the bureaucrat to surrender before the court immediately.
Faulting the special CBI court’s grant of bail, the High Court said it could potentially compromise the investigation process in the case.

Acharya was arrested by the CBI on January 30 in the Emaar scandal involving a real estate project in the city under public-private-partnership model with a Dubai-based company. Acharya was accused number one though he was the fourth person to be arrested in the case.

Acharya was the managing director of the A P Industrial Infrastructure Corporation (APIIC) when the irregularities leading to the dilution of corporation’s equity in a joint venture with Emaar properties – the Emaar Hills Township Private Limited – took place.