APIIC-Emaar case: Non-bailable arrest warrant against Emmar MGF's Shravan Gupta

HYDERABAD: A special CBI court today issued a non-bailable arrest warrant (NBW) against Emaar MGF Land managing director Shravan Gupta in connection with the alleged irregularities in the APIIC-Emaar land deal case after he failed to appear before it despite directions.

After taking cognisance of the supplementary chargesheet filed in the Emaar township scandal in April, the court of Principal Special Judge for CBI cases also issued a prisoner transit (PT) warrant against two other accused G V Vijaya Raghava, finance head of Emaar MGF (South) and N Sunil Reddy, an alleged aide of Kadapa MP Y S Jaganmohan Reddy, to enable Chanchalguda jail authorities to produce them before it on June 18.

The CBI in the supplementary chargesheet had stated that Gupta was "absconding" since January and there was no response to notices served on his addresses.

CBI moved an application to secure his presence in the court and issued the NBW against him.

Gupta is one of the 14 accused in the Emaar scam case and is charged with "misappropriation" of public money and assets.

CBI in its chargesheet filed on February 1 against suspended IAS officer B P Acharya and others comprising individuals and private companies had charged them under relevant sections of IPC and Prevention of Corruption Act in the alleged irregularities in land transfer and sale of villas and apartments in the township project at Gachibowli here.

The CBI, in its FIR in August last year, charged Acharya, then Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC), of entering into a criminal conspiracy with officials of Emaar Group and unknown public servants to cheat the state-run APIIC and secure wrongful gains to Emaar.

The central agency had earlier alleged that APIIC was deprived of its legitimate revenue share to the tune of Rs 43.5 crore from the Integrated Township Project it developed jointly with Emaar Group at Gachibowli even as Emaar Properties and Emaar MGF obtained pecuniary gain of about Rs 167 crore.