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CBI To Probe Emaar Scam Since Babu Regime

Monday, August 22, 2011 | 0 comments

If the Central Bureau of Investigation has its way, even Telugu Desam Party president N Chandrababu Naidu would face interrogation in connection with the Emaar properties case.
CBI joint director V Lakshminarayana told the media that the inquiry would be done right from the beginning, rather than only during the Y S Rajasekhara Reddy regime.
“We are looking at it as a total project from its inception, and not as a (particular) period,” he said.
It was Chandrababu Naidu who had had entered into the MoU with Emaar Properties with 26 per cent stake for the APIIC. It was Naidu who had alienated land to Emaar Properties at a cheap rate of Rs 25 lakh per acre, at a time when the market value of the land was Rs 1 crore per acre.
Ironically, his government had acquired 90 acres of land out of the total 535 acres from local farmers at a rate of just Rs 4 lakh per acre. Now all these farmers are crying foul. So, if the CBI has to probe, it has to question the whole deal!
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