The CBI special court on Wednesday 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 case, to February 27.
The special court gave these directions when the Chanchalguda Jail officials presented Sunil Reddy in the court. Sunil Reddy’s counsel stated that his client never collected any money with regard to the township project as being alleged by the CBI and sought bail for his client.
However, the CBI counsel stated that 102 villa 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 were 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.
After hearing the arguments from both sides, the court adjourned the bail petition of Sunil Reddy to February 27. (INN)
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