Botsa: TD was not transparent

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In her statement as a witness in the Emaar scam, film actor N. Balakrishna’s wife, N. Vasundhara Devi said, “I had signed the MoU with Emaar on behalf of my daughter as I have the power of attorney. The plot was offered to me at the rate of Rs 5,000 per sq.yd. I paid the amount in favour of Emaar, Stylish Holmes, through an ING Vysa Bank, Chennai, Mount Road branch cheque pertaining to a joint account I had with my daughter. My daughter was allotted plot number B 19 and B 20 measuring 2,440 sq.yd. Later, I paid the amount in favour of Emaar MGF land vide a demand draft in 2010. The agreement was executed in 2010 in favour of my daughter, which was registered at Serinlingampally. We have paid an amount of Rs 1.15 crore and a balance of Rs 6.1 lakh is to be paid at the time of execution of the sale deed. My daughter signed the sale agreement but she did not visit the registration office.”

For the query posed by the CBI as to why the value of the land was not collected in cash and why it was taken in the form of secured debentures at a nominal two per cent interest, Mr Satyanarayana said that it was left to the officials concerned. The minister stated, “My objections were not considered. In the note I pointed out that the lease rental for the period of 33 years may be increased to three per cent and it was finally approved by the CM in 2005. Mr K.V. Rao, the principal secretary issued GO 22 at his own level without referring the matter to me and the CM, YSR. The vital point about the lease rental for the period of 33 years was missing in GO 22. Normally a GO rectifying the error notice should have been issued, which was not done in this case.”

He told the CBI that the TD regime was not transparent in the implementation of the integrated project and was reviewed by a group of ministers that suggested certain changes. “At the time of issuing the GOs, the principal secretary (industries and commerce), Mr Rao, didn’t circulate the file through me, and only after issuing GO 22 was the file placed before me and I observed certain lacunae which I pointed out in my comments in 2005.” Mr Satyanarayana’s statement was recorded on October 19, 2011.

In his statement, former APIIC chairman Ambati Rambabu said, “I never interacted with the Emaar chairman during my tenure. Koneru Prasad and Ranga Rao used to visit me.” He is named witness number 27 in the case. He said that he didn’t actively participate in resolving the land dispute between the APIIC and his close friend, B. Krishna.