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26-02-11
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AP High Court : Emaar, APIIC land deal is a big scam
Feb. 25: In a significant observation, the Andhra Pradesh High Court on Friday said that the deal between Emaar Properties PJSC and the Andhra Pradesh Industrial Infrastructure Corporation was a huge scam and decided to adjudicate the matter in detail.
A division bench comprising Justice V. Eswaraiah and Justice V. Suri Appa Rao while taking up a petition based on the letter of Congress MLA, Dr P. Shankar Rao, directed the APIIC to produce the records of the deal before the court. The bench directed that notices be issued to the sister companies of Emaar Properties, Emaar MGF Land, Emaar Hills Township, and Stylish Homes Real Estate Pvt Ltd, (one of the key players in the whole episode, owned by Mr Koneru Prasad popularly known as Dubai Prasad). The high court bench granted two weeks to them to file their counter affidavits and posted the case to March 14. Last edited by Agastya07; 26-02-11 at 12:14 PM. |
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