CBI sleuths visit APIIC office to probe into Emaar deal - Times of India

HYDERABAD: CBI officials on Saturday visited the APIIC's head office in the city and took copies of the documents pertaining to the APIIC-Emaar land agreement. The visit follows the AP High Court's directive last week asking the premier investigating agency to submit a preliminary report within two weeks with regard to the APIIC-Emaar agreement and the assets of YSR Congress chief Jaganmohan Reddy.

APIIC MD B R Meena told STOI that the sleuths had taken photocopies of the documents pertaining to the APIIC-Emaar agreement and the subsequent amendments that handed over to the Dubai-based group the prime property amounting to 540 acres in Manikonda village in Ranga Reddy district. The property's worth is estimated to be Rs 5,000 crore and, ironically, APIIC has not got any revenue from the deal so far.

In the Emaar case, both the APIIC and the vigilance and enforcement departments had filed affidavits in the HC confirming irregularities in the deal. CBI is perusing all of them now. According to sources, the CBI has devised a strategy to overcome the time constraint of two weeks given to it by the high court to submit the reports in both the cases. "It will physically go to certain relevant offices and verify the documents in the Emaar case and confine itself to verifying the material evidence in the Jagan case," said an official. The CBI is also likely to question some investors in Jagan's companies.