Deccan Chronicle; Sunday February 20, 2011,
A Special Judge of the Anti Corruption Bureau court on Saturday ordered that a case be registered against authorities of the K. Raheja Corporation and two IAS officials in connection with the alleged APIIC fraud in the Raheja IT Park land deal.
The accused IAS officials are principal secretary (IT), Ms K. Ratna Prabha, and the former vice-chairman of the APIIC, Mr B.P. Acharya. The IPS officer and special secretary (IT), Mr M. Gopikrishna, and the joint secretary, Mr P.S. Murthy, the MD of K. Raheja Corporation, Mr Neil Raheja, and the director (AP operations), Mr B. Ravindranath, are the other accused. The court has asked the ACB to investigate and file a report by March 31.
The complainant, Mr T. Sriranga Rao, said, “The case is to be booked under the Prevention of Corruption Act as it is a criminal breach of trust and cheating case. The APIIC was supposed to pay Rs 2.09 crore when the capital amount was increased to Rs 20 crore.
At that time, Mr Acharya, the then APIIC vice-chairman, written to Ms Ratna Prabha. I obtained a report under the RTI Act and found that APIIC has Rs 37 crore in their account. But neither did the APIIC pay the money nor did the IT department give the land. Due to this, the equity of the APIIC came down to 0.06 per cent in the project. This has been done intentionally.
“The total value of the entire property today is Rs 6,000 crore and at 11 per cent, the APIIC’s share would be Rs 660 crore,” he said.
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