The Andhra Pradesh High Court on Tuesday cancelled bail of Mr B P Acharya, senior IAS officer and the prime accused in Emaar Properties case.
Acting on a petition by the Central Bureau of Investigation seeking cancellation of Mr Acharya's bail granted by CBI special court on March 16, the High Court felt it was not proper to grant bail when the investigation was still on.
It had also directed Mr Acharya, former Home Secretary of Andhra Pradesh, to surrender to the police immediately.
Mr Acharya is the prime accused in the case which pertains to alleged irregularities in land transfer and development and sale of villas and apartments in a township jointly developed by Emaar MGF and Andhra Pradesh Industrial Infrastructure Corporation.
Mr Acharya was arrested by the CBI on January 30, 2012. He is alleged to have caused loss to the Government by agreeing for reduction of Government stake from 49 per cent to 26 per cent in the project coming up at Manikonda near here.
nagsridhu@thehindu.co.in