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Raheja case: Acharya counters petitioner's contention

Special Correspondent

HYDERABAD: B.P. Acharya, Principal Secretary, Home, has refuted allegations made by the petitioner in the ACB Special Court about his role as the VC&MD of APIIC in the Raheja's Mindspace project in 2005.

Referring to reports in the media, he clarified that the decision to reduce equity in the project was taken at government-level and APIIC had to abide by it.

He said the APIIC was only acting as the nodal agency of the Information Technology and Communication Department that allotted land to Rahejas as per the ICT policy aimed at infrastructure creation and employment generation.

He explained that based on the Rahejas' request to enhance equity, the then APIIC VC&MD L.V. Subramanyam sent a proposal to the IT&C Department on May 12, 2005, which signed a memorandum of agreement with the Raheja Corporation.

Mr. Acharya said after he joined APIIC he had sent a reminder in August to the IT&C Department reiterating the proposal for allotment of additional land as equity. He had also spelt out the consequences, so that a considered decision could be taken.

Subsequently IT&C based on the Rahejas' letter, communicated its decision against further infusion of equity in the joint venture and the letter was signed by the then Secretary IT & C, Ratnaprabha.

He said in all PPP projects, APIIC invested equity only in the form of land and never in cash except for the controversial Volkswagon case. Hence the allegation that the Corporation had sufficient funds for additional equity in the project was irrelevant.

‘Baseless charges'

A measure of the project's success was the investment it attracted and nearly 40,000 jobs created directly and over 1.5 lakh jobs indirectly. In view of the above, it was evident that the petition filed by certain elements, driven by ulterior motives, was based on figments of the imagination and baseless assumptions, Mr. Acharya said.

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