B.P. Acharya gets bail in Emaar case

A special CBI court on Tuesday granted conditional bail to suspended IAS officer B.P. Acharya. He is likely to walk out of jail on Wednesday.

The court granted  bail to Acharya, who was chairman and managing director of the state-run Andhra Pradesh Industrial Infrastructure Corporation (APIIC), directing him to deposit a personal bond of Rs 1 lakh and two sureties for execution of the bail. He has also been asked to appear before CBI officials in Hyderabad, on every Friday.

The court upheld his counsel's contention that CBI's probe into the Emaar scandal was over and that his client, who is now in judicial custody, should be released on bail. The defence had contended that some of the accused in the case including industrialist Koneru Prasad, Emaar MGF Finance Head (South) G Venkata Vijay Raghav and Emaar MGF Land Managing Director Shravan Gupta were out on bail.
The CBI arrested the senior IAS officer in connection with the APIIC Emaar Properties scam on January 30.

- Siva@Sakshipost