Emaar case: Ambati appears before CBI
Published on Jan 8, 2012 8:11 am IST

YSR Congress party official spokesman and former Andhra Pradesh Industrial Infrastructure Corporation chairman Ambati Rambabu on Sunday stated that the alleged irregularities in the APIIC-Emaar Properties scam did not take place during his stint as the chairman from 2005-2007.

Talking to media persons after facing questioning by the Central Bureau of Investigation in connection with Emaar Properties case at Dilkusha Guest House, Ambati Rambabu said that the two decisions during his regime —the decrease in APIIC’s share and inclusion of Emaar-MGF — were not brought to the notice of the board during his tenure. He said that he has produced all relevant documents before the probing agency.

He said the agreements in connection with all those deals took place during the stint of former chief minister N Chandrababu Naidu during 2002. He said that he had appealed to CBI to investigate into the agreements that took place in 2002 also. He said that the APIIC suffered heavy losses due to provisions in the GOs issued during the TDP’s regime.

Ambati said that the CBI has not questioned anything related to the disproportionate assets case of YS Jagan Mohan Reddy. The probing agency questioned Ambati Rambabu for nearly three hours on Emaar properties.

Earlier, the CBI has served notices to Ambati Rambabu in the Emaar scam and asked him to appear before it by January 8. The investigation agency has already arrested businessman Koneru Prasad in the Emaar-APIIC case. (INN)


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