CBI probe in Emaar case faulty: YSRCP

Press Release 

CBI probe in Emaar case faulty: YSRCP

Hyderabad, September 17:The lopsided investigation of CBI has once again come to fore with the investigation agency filing a third charge-sheet in the Emaar Properties case on Saturday letting all the main conspirators and abettors off the hook, YSRCP spokesperson Vasireddy Padma has said.

“The protracted investigation has gone on expected lines with Congress and TDP having a tacit understanding, each saving the other and shifting the blame on people close to YSR family. The script is written by Delhi bosses and prompted by N Chandrababu Naidu both targeting YS Jagan Mohan Reddy, his family members and associates,” she said at media conference here on Monday.

CBI told the court that the "Emaar scam is worth Rs 215 crore and the end beneficiaries are N Sunil Reddy, Koneru Rajendra Prasad and Emaar MGF Land Limited" and has removed the name of Tummala Ranga Rao, the director of Stylish Homes Real Estates Private Limited, as he turned approver in the case.

The manner in which CBI concluded its investigation into the multi-crore scam shows that it is inclined towards saving Congress biggies, TDP President N Chandrababu Naidu, who was instrumental in the land allotment and other irregularities, and persons who were willing to cooperate with it in targeting people close to YSR family, she said.

CBI methodology of investigation in YS Jagan Mohan Reddy’s case was altogether different and its duality in functioning was well established. On hand it has just ignored the person(s) responsible for Emaar scam while it went on a hot pursuit in arresting YS Jagan Mohan Reddy in the 26 GOs case though he was never in the Government, she said.

There is no evidence that CBI has ever questioned N Chandrababu Naidu, who has allotted 535 acres of prime land in the city at a throw-away price of Rs 29 lakh per acre and the extent of land was doubled from 230 acres overnight. There is also documentary evidence that the TDP President’ family members have sold an adjacent land for Rs 1 core per acre three years prior to the Emaar allotment. The loss to the ex-chequer can be gauged by this on deed, she said.

“CBI has hoodwinked this anomaly along with many others and its functioning clearly establishes that its brief is to save N Chandrababu Naidu who will in turn protect the Congress government and the duo 

shall target YS Jagan Mohan Reddy,” she said adding that the investigation agency has ignored Vigilance Commission report on the issue as well as many other documented records.

On N Chandrababu Naidu’s declaration of assets and the subsequent uncalled for arguments, she said: “we have just asked a simple question as to how the land value has depreciated as the amount varies from the affidavit he has filed in 2004 and 2009 before elections to his latest declaration of assets.  TDP leaders should answer this basic question instead of using their lung power and picking up a debate.”

How an MLA with 2.5 acres of land can earn the huge amount of money N Chandrababu Naidu  himself has voluntarily disclosed is the point to be answered, she said.