CBI questions bureaucrat, others in Jagan, Emaar cases

The CBI officials were questioning Principal Secretary (Home) B.P. Acharya at a secret location in connection with the Emaar case. They were also questioning 12 others in the two cases, official sources said.

Acharya, an Indian Administrative Service (IAS) official, was managing director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) when Emaar diluted APIIC's equity in the joint venture, causing huge loss to the state exchequer.

The CBI has already registered an FIR against Acharya, directors of Emaar Properties PJSC and Emaar Hills Township Private Ltd (EHTPL), Emaar MGF Land Pvt Ltd, Stylish
Homes Pvt Ltd, unknown public servants and unknown others.

According to CBI, Acharya allegedly abused his official position to help EHTPL and Emaar MGF.

The CBI officials were also questioning 12 others including representatives of Jaganmohan Reddy's company Jagati Publications and the firms which invested in his businesses.

Jagan, as the YSR Congress party chief is popularly known, allegedly amassed huge wealth when his father Y.S. Rajasekhara Reddy was the chief minister between 2004 and 2009.

The FIR booked against Jagan and 71 others said he conspired with his father who doled out favours to several companies which invested in Jagan's businesses in a quid-pro-quo arrangement.

The multi-disciplinary investigation team (MDIT) of CBI continued to digitize the documents seized during searches last week at the residences and offices of Jagan and investors.

The CBI sleuths searched 53 locations in seven cities though they had obtained search warrants from court for searches at 91 locations. The sources have not ruled out CBI conducting more searches in the coming days.

The MDIT is analyzing the bank accounts, income tax returns and other financial transactions. It is likely to call more people for questioning before starting collection of evidence.