HC lets Koneru to go to Dubai to clear loans

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Hyderabad: Justice K.G. Shankar of the AP High Court on Friday granted permission to Koneru Prasad alias Dubai Prasad, accused in Emaar Properties scam to visit Dubai. 
 
Prasad was arrested by the CBI on November 4, 2011 in connection with the case after the investigative agency collected direct evidence against him wherein the money paid by some buyers towards villa plots in Emaar township project was credited into his own bank accounts.
 
Prasad, who is alleged to have many business firms in Dubai, moved the HC to fly to Dubai to settle bank loans and look after his company affairs. The CBI opposed the plea contending that the scam originated in Dubai and there was every possibility of him influencing the probe against him.
 
While letting Prasad to go for four weeks, Justice Shankar directed the CBI to return his passport. The judge told the petitioner to furnish a bond of Rs 6 lakh with two sureties for the relaxation order.
 
He made it clear that Prasad must return to India within four weeks from the date he took possession of his passport and surrender to the trial court within two days after his return.
 
The judge directed to Prasad to restrain from entertaining any interaction with the officials of Government of UAE/Dubai during his visit and shall not attempt to influence them in any manner which effects the investigation of the Government relating to the Letter of Rogatories sent to them by India.