The CBI Special Court at Nampally on Monday remanded Stylish Homes managing director Koneru Prasad to judicial custody till November 18.
Earlier, the CBI sleuths produced Koneru Prasad in the court at the end of his custody period on Monday. The CBI’s counsel appealed to the court to extend the custody further as they needed to interrogate him for some more days to extract information in connection with Andhra Pradesh Industrial Infrastructure Corporation – Emaar land scam. However, the court rejected the CBI’s plea and remanded him to judicial custody till Nov 18.
Following the directions of court, the officials shifted him to Chanchalguda Jail.
It may be mentioned that Koneru Prasad was arrested last week and the court has remanded him to CBI custody for seven days. The CBI told the court that Prasad was not cooperating during the interrogation and sought another eight days of his custody for further interrogation. ‘The investigating agency wants to know where Prasad has hidden all the black money that he has collected from the buyers of villas and plots in the Emaar Township,’ the CBI counsel told the court.
The agency also informed the court that Prasad has confessed to have earned Rs 30 crore illegally through the land scam deals.
Meanwhile, Koneru Prasad moved a petition seeking bail for five days to perform Ayappa ritual in Kerala. Admitting the petition, the court asked the CBI to file its counter. The hearing on bail petition has been posted for Tuesday. (INN)
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