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Register case against State officials, ACB told

Staff Reporter

Irregularities alleged in APIIC's joint venture with Raheja Corporation Limited


Four officials and two others alleged to have caused Rs. 500-crore loss to exchequer

Government's share reduced to 0.006 per cent as against 11 per cent, alleges petitioner


HYDERABAD: A local court directed the Anti-Corruption Bureau (ACB) to register a case against four top Government officials and two others and investigate into allegations that they had caused a loss of more than Rs.500 crore to the exchequer by reducing the government's stake in a joint venture with the Raheja Corporation Limited.

The direction came on Saturday from a court which was hearing a petition filed by an advocate, T. Sriranga Rao, who alleged that there were several irregularities in Mindspace Hyderabad Project (MHP), a joint venture between Raheja Corporation Limited and AP Industrial Infrastructure Corporation (APIIC).

The court asked the chief of ACB to file a status report by March 31.

The petitioner, Mr. Rao, claimed that the court found prima facie evidence in the charges levelled in the petition and directed registration of the case.

The four government officials included IT principal secretary K. Ratna Prabha, special secretary Gopi Krishna and joint secretary P.S. Murthy, and the then APIIC Managing Director and present principal secretary (Home) B.P. Acharya. The other two were Raheja IT Park MD Neil Raheja and Raheja Mind Space head, B. Rabindranath.

110 acres

Mr. Rao said in his petition that the government had allotted 110 acres land at Madhapur for developing MHP under a joint venture between APIIC and Raheja company. An MoU was also signed in 2003.

As per the MoU, a joint venture company was to be formed between the two parties in which the government shall hold an equity share of 11 per cent while the remaining share will be held by Raheja company.

But the government's share was reduced to 0.006 per cent as against 11 per cent due to unilateral decisions taken by government officials, Mr. Rao alleged.

When contacted, ACB Director-General Umesh Kumar said he was waiting to receive the court orders.

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