Tuesday, January 31, 2012

Who is BP Acharya arrested in connection with Emaar case?

BP Acharya: An Experiment With Untruth?
IN A major setback, a 1983 batch IAS and Andhra Pradesh’s principal secretary (home) Bibhu Prasad Acharya was arrested by Central Bureau of Investigation on Monday for his alleged role in the Emaar case. The investigating agency was looking into the alleged irregularities in transfer of land and sale of villas and apartments in a realty project jointly developed in Hyderabad by state-run Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and Dubai-based infrastructure company Emaar. For the record, the Emaar is a partner of Delhi-based realty company MGF and their joint venture also built the Commonwealth Games village in Delhi, the possession of which is yet to take place because of disputes with Delhi Development Authority.
The charges slapped against Acharya, who was the vice-chairman and MD of Andhra Pradesh Industrial Infrastructure Corporation between 2005 and 2009, include cheating, criminal conspiracy and criminal breach of trust, and ones under the Prevention of Corruption Act.
It is alleged that the senior IAS officer was a part to the conspiracy of bringing down the equity of the state government in the joint venture of Emaar Hills Township Private Ltd from 26% to 6% without the requisite approval. In other words, this led to the loss of about Rs 1000 crore to the state exchequer. Some reports have pegged the state government’s loss at Rs 4,130 crore.
The CBI had earlier arrested Sunil Reddy, known to be close aide of Kadapa MP YS Jagan Mohan Reddy. Acharya is the fourth person to be arrested in connection to the case.
An M Phil in political science from JNU and also a post-graduate in development studies from the University of Manchester, Acharya has nine years of the service left.
Acharya had also served as Metropolitan Commissioner of Hyderabad Metropolitan Development Authority between December 2009 and August 2010, and then became the principal secretary, industries.

Action and Appointments
a) Shaktikanta Das, a 1980 batch Tamil Nadu cadre IAS, has been appointed as additional secretary in the Department of Economic Affairs in the vacancy of Ms Loretta Mary Vas, a 1977 batch UP cadre IAS.
b) The ACC has also approved the appointment of Jiji Thomson, a 1980 batch Kerala cadre IAS, presently in the Organizing Committee of the Commonwealth Games, as Managing Director, TRIFED under the ministry of tribal affairs, in the rank and pay of additional secretary in place of Ms Sneh Lata Kumar, a 1979 batch MP cadre IAS who has retired.

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