Emmar MGF Vice-Chairmam Shravan Gupta grilled by CBI

HYDERABAD: The CBI has questioned a top official of Emaar MGF in connection with the multi-crore land scam in Hyderabad allegedly involving the builder.

Agency sources said that Shravan Gupta, Executive Vice Chairman and Managing Director Emmar MGF, was questioned in connection with the scam on Tuesday at CBI office in Hyderabad.

"We would like to clarify that Mr Shravan Gupta our Managing Director and Executive Vice Chairman was called for inquiry by CBI officials in Hyderabad. Mr Gupta is back in Delhi. We continue to cooperate with the investigating agency," Emmar MGF Spokesperson said in Delhi.

Meanwhile, a court here today extended till November 14 the CBI custody of industrialist Koneru Prasad arrested in connection with the alleged irregularities in the land deal.

The case relates to land allotments made to Emaar by the then YSR Reddy Government and dilution of the stake of APIIC in the joint venture with Emaar for the development of a integrated township, golf course and convention centre at Gachibowli in Hyderabad.

Koneru Prasad is termed as a key person in the probe into Emaar case and is seen instrumental in the APIIC-Emaar land deal

The case was investigated by the CBI following the order of Andhra Pradesh High Court on August 10.

The CBI in its FIR on August 17 alleged that APIIC's former CMD and currently the Principal Secretary (Home) B P Acharya, directors of Emaar Properties, directors of Emaar Hill Township Private Limited (EHTPL), Emaar MGF Land Private Ltd, Stylish Homes Pvt Ltd and unknown public servants and "unknown others" entered into a "criminal conspiracy" to cheat APIIC which in turn resulted in wrongful gain to Emaar.