New Delhi: The Central Bureau of Investigation (CBI) on Monday arrested Principal Secretary of Home B P Acharya, a 1983 batch IAS officer and Principal Secretary of the State Government, in connection with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and Emmar Properties case.

He has been charged for transferring land and selling villas and apartments jointly developed by APIIC and Dubai-based infrastructure firm Emmar in a township in the state.

It is alleged that through a conspiracy the stake of APIIC was diluted in the project causing huge losses to the exchequer. According to CBI, plots and villas were sold at a price 10 times than that was shown on paper.

A senior CBI official said, “Acharya was called for questioning at the CBI office in Hyderabad and was later taken into custody when he refused to cooperate the CBI.”

Earlier on January 24, the CBI had arrested Sunil Reddy, an aide of late Chief Minister YS Rajashekhar Reddy’s son Jaganmohan Reddy. He was arrested for allegedly transferring online monies collected for the plots sold in the Emaar Hills township scandal.

Following the Hyderabad High Court’s direction, the CBI on August 17 registered a case against Acharya and the real estate developer under IPC sections pertaining to cheating, criminal conspiracy and provisions of Prevention of Corruption Act.

The CBI sources claimed that the investigation is almost complete in the case. 

Acharya is the fourth person arrested so far for in this case.