Thursday, April 21, 2011

AP High Court : Probe all involved in Emaar deals

By S A Ishaqui

Hyderabad,April 20: The Andhra Pradesh High Court on Wednesday said that prima facie investigation has to be initiated against each and every person responsible for the fraudulent deals, if any, in the Emaar Properties matter.

A division bench comprising Justice V. Eswaraiah and Justice V. Suri Appa Rao, while dismissing the review petition of Emaar Properties Ltd PJSC, observed that the probe has to be conducted against every person involved in the deal, irrespective of position, to retain the public’s confidence in the impartial working of the Andhra Pradesh Industrial Infrastructure Corporation. It may be recalled that the High Court had taken up a letter sent by Dr P. Shankar Rao seeking a probe into the deal between Emaar and the APIIC.

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