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BP Acharya gets bail in Emaar scam

The CBI Special Court on Friday granted bail to suspended IAS officer B P Acharya who was arrested by the CBI in connection with the Emaar Township scam.

While sanctioning the bail, Special Court Justice B Nagamaruthi Sarma observed that he was taking cognizance of the chargesheet only. With the CBI failing to secure sanction from the Central Government to prosecute Acharya, he could not extend his judicial remand further, the judge observed.

The judge granted bail to Acharya on the condition that he should furnish two personal bonds of Rs 25,000 each.

The court granted bail to Acharya after he along with Trimex Group Chairman Koneru Prasad was produced before the court through video linkage with the Chanchalguda Central Jail. However, the court extended the remand of Koneru Prasad till March 30.

Acharya was arrested on January 30, a day prior to the CBI filing the chargesheet in the case.

Acharya was Vice-Chairman and Managing Director of AP Industrial Infrastructure Corporation from 2005 to 2010 when the Corporation assigned 535 acres of land at Nanakramguda here to Dubai-based Emaar Properties for development of a township that included villas and apartments. (INN)

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