Court allows Prasad's plea seeking special prisoner status

Prasad was arrested by CBI in the APIIC-Emaar properties land deal case on November 3.
The special CBI court here made an "initial recommendation" to the Hyderabad district collector (who is also the district magistrate) for according special class status to Prasad, who is currently lodged as an ordinary prisoner at Chanchlguda jail.

Prasad, who is the promoter of Stylish Homes Real Estate Pvt Ltd, had sought special class status on the grounds that he is a non-resident Indian, and has been an industrialist for the past 30 years, and was suffering from serious health problems.

CBI opposed the petition saying that Prasad had qualification only up to intermediate level, and he was not entitled to special prisoner status as he had become rich through "illegal" activities.

Stylish Homes Real Estate, one of the marketing agents for Emaar, is accused of undervaluing the plots and villas at Gachibowli here and making huge profits, causing loss thereby to Andhra Pradesh Industrial Infrastructure Corporation.