The Rs 4,000-cr scam
* APIIC signs deal with Emaar Proper-ties PJSC Dubai to build township, golf course, convention centre in 2002.
* Two ‘special purpose vehicles’ are to be set up, but three SPVs are formed
* APIIC stake fixed at 26%. But Emaar MGF, a subsidiary of Emaar, inducted. This cuts APIIC stake to 5%
* Stylish Holmes of Koneru Prasad hired to sell Emaar villa plots. Acharya allegedly did not inform APIIC board
* Villa plots fixed at Rs 5,000 per sq yard without APIIC knowledge, sold at Rs 50K
* Stylish Holmes’ Ranga Rao collected Rs 96 cr through plot sales, handed it to Jagan Mohan Reddy aide Sunil Reddy
* APIIC loss estimated at Rs 4,000 crore
Others named by CBI
1. Stylish Holmes director T. Ranga Rao
2. Emaar Properties PSJC directors
3. Emaar MGF directors
So far in jail
1. B.P. Acharya: CBI alleges the IAS officer oversaw the Emaar scam, deprived government of its share of revenue.
2. Koneru Prasad: Stylish Hom-es MD and Emaar official, alleged scam beneficiary.
3. Sunil Reddy: Jagan's aide received slush funds from T. Ranga Rao of Stylish Holmes.
4. Raghavan: Emaar staf-fer, sold plots at higher pri-ces, signed off scam papers.