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Emaar case: Sunil’s bail petition hearing adjourned to March 5

The CBI special court on Monday adjourned the hearing on bail petition of N Sunil Reddy, a close aide of Kadapa MP Y S Jagan Mohan Reddy and accused in Emaar Properties, to March 5.

Meanwhile, the CBI filed a counter petition in the court opposing bail for Sunil Reddy. In its counter petition, the CBI feared that Sunil Reddy might tamper with the evidence and influence the witnesses if granted bail. After hearing the CBI’s arguments, the court adjourned the next hearing to March 5.

Earlier, Sunil Reddy’s counsel stated that his client never collected money with regard to the township project as being alleged by the probing agency.

However, the CBI stated that 102 villas were sold by Emaar Hills Township Pvt Ltd through Stylish Homes Real Estate Pvt Ltd and Rs 4,000 to Rs 45,000 per sq yard was collected in excess from the buyers over the documented rate of Rs 5,000 per sq yard. The counsel said that the money was then passed on to Koneru Prasad and Sunil Reddy. (INN)

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